Indian Energy Exchange receives approval to launch green market

Indian Energy Exchange announced on Wednesday that it has received approval from Central Electricity Regulatory Commission, to launch the green term-ahead market (G-TAM) on its platform.

The Exchange has already conducted the mock trading session on August 18, 2020, which saw good participation from its members and partners. After this, it is now planning to commence trading from August 21, 2020 (Friday).

The market will offer trade in four types of green term-ahead contracts, green intraday contracts, day-ahead contingency contracts, daily contracts, and weekly contracts. There will be separate contracts for solar and non-solar energy to facilitate solar and non-solar renewable purchase obligations fulfillment.

The introduction of green markets on the Exchange platform will help in facilitating consumers to make the right choice. Introduction of GTAM, along with, the newly launched real-time trading in electricity will work in tandem to support the seamless integration of RE power.

GTAM will greatly support the renewable energy generators as well as the distribution utilities in trading through the market platform. The new market segment will support the states with surplus renewables to sell while the buyers will be able to procure energy as well as meet the renewable purchase obligations.

The stock closed at 190.95, up by 3.19 per cent or Rs 5.90 per share. The intraday high is Rs 192.30 and the intraday low is Rs 186. Since the beginning of the year, the stock has given a return of 33.39 per cent thereby, outperforming S&P BSE 500 Index, which gave a return of -4.72 per cent.