The Real Time Market framework provides buyers and sellers an organised platform for energy trade closer to real time. The RTM shall be a half hourly market and there would be 48 market sessions of 15-minute duration each. The auction sessions would be conducted during even time blocks of the hour with delivery to be commenced 1-hour after closure of trade session.
The RTM provides Discoms an alternate mechanism to access larger market at competitive price as generators with un-requisitioned capacity are allowed to participate. For a Discom any requirement of power after the end of right to revision of schedules it could access the RTM at real time price. With RTM in place, the Discom would have a revolving reserve available in the form of half hourly trading oppurtunity.
The RTM shall cover delivery for 30 minutes in two time blocks of 15-minute duration each
PXIL shall conducted 48 auction sessions of 15-minute duration each during even time blocks of the hours, i.e. 00:15 to 00:30 hrs, 00:45 to 1:00 hrs, 01:15 to 01:30 hrs, …., 23:15 to 23:30 hrs and 23:45 to 24:00 hrs
The Delivery of power shall commence 1 hour after closure of auction session i.e. for after closure of auction session 00:15 to 00:30 hrs the delivery of power shall be for period 01:30 to 02:00 hrs.
PXIL will allow participants to place orders for all time blocks of the upcoming hours of the day in advance. However, the matching of placed orders shall be considered for clearing as per the specified time blocks.
Double Sided Closed Auction with Uniform Clearing Price is the Price discovery mechanism applicable in RTM. The mechanism is similar to the Price discovery mechanism applicable in Day Ahead Market.
National Load Dispatch Centre (NLDC) shall indicate to the Power exchange the available margin on each transmission corridor at the time of closure of auction session. The order placed by the participant shall be matched based on transmission capacity released to PXIL.
Generator shall have an option to purchase power in real time market, only in the case of forced outage of a unit(s). In such a case, the Generator shall submit an undertaking to the Power Exchange (with a copy to concerned RLDC/SLDC) where it is participating giving details of the forced outage (time of outage, reason of outage, anticipated revival time) prior to bidding in the RTM as per Format PX‐VI A. The withdrawal PoC charges and withdrawal PoC losses shall be applicable on such Generators and it will be same as the withdrawal PoC charges and losses of State/Union Territory where the generator is geographically located.
The “Standing clearance” received by Buyer / Seller under CERC (Open Access in inter State transmission) Regulations 2008 and its amendment from time to time, is sufficient to participate in RTM and no separate clearance/NoC is required for participation in RTM. The Buyer / Seller should ensure that the quantity placed in RTM auction is within the approved NoC quantum for participating across short term products.
PXIL shall declare result within 15-minutes of closure of the bidding window i.e. 3 time blocks ahead of the 1st time block for delivery of power. This would provide 45 minutes time to Buyer/Seller undertake preparatory activities to fulfill their obligations for delivery period of 30-minute duration. Similarly, PXIL shall submit the scheduling request to SLDCs 30 minute (i.e. 2 time blocks) ahead of the 1st time block for delivery of power.
The transmission charges shall be payable as applicable as per the rate specified under CERC (Sharing of inter State Transmission charges and losses) Regulation 2010 and relevant CERC orders.
NLDC operating shall be payable at Rs. 1 / MWh by each successful Buyer and Seller on the basis of its energy scheduled (MWh) at regional periphery, capped to maximum ceiling of Rs. 200 per day.
The STU charges shall be as per the transmission charges specified by State Electricity Regulatory Commission, else the charges for use of respective State network shall be payable by each successful Buyer and Seller at the rate of Rs. 80 / MWh for the energy scheduled (MWh).
The successful Buyer and Seller shall also pay SLDC operating charges as specified by State Electricity Regulatory Commission, else operating charge at Rs. 1000/- per day .
Refer Annexure IF of the Business Rules for the Physical Market Segment Click Here
Scheduling of Collective Transactions through Real Time Market Click Here