Context:

As a first step towards the ‘greening’ of the Indian short-term power market, the Government launched the pan-India Green Term Ahead Market (GTAM) in electricity.

About:

• Transactions through GTAM will be bilateral in nature with clear identification of corresponding buyers and sellers, there will not be any difficulty in accounting for RPO.
• GTAM contracts will be segregated into Solar RPO & Non-Solar RPO as RPO targets are also segregated.
• Further, within the two segments, GTAM contracts will have Green Intraday, Day Ahead Contingency, Daily and Weekly Contracts
  • Green Intraday Contract & Day Ahead Contingency Contract – Bidding will take place on a 15- minute time-block wise MW basis.
  • Daily & Weekly Contracts – Bidding will take place on an MWh basis. Both buyers and sellers can submit the bid, however, the seller will provide a profile in terms of 15-minute time block-wise quantity (MW) along with the price (Rs/MWh). After the contract gets executed scheduling will take place as per the profile. In the case of multiple buyers, the profile will get allocated on a pro rata basis.
• Price discovery will take place on a continuous basis i.e. price-time priority basis. Subsequently, looking at the market conditions open auctions can be introduced for daily & weekly contracts.
• Energy scheduled through the GTAM contract shall be considered as deemed RPO compliance of the buyer.