Rajnish Optimist 145 Questions 255 Answers 237 Best Answers 1k Points View Profile Rajnish Asked: November 15, 20202020-11-15T08:44:10+05:30 2020-11-15T08:44:10+05:30In: UPSC PRELIMS What is Real Time Market (RTM) for Electricity? Explain the Real-Time Market (RTM) for Electricity. economicsenergy Share Facebook 1 Answer Recent Sweety Stay Original. 142 Questions 116 Answers 102 Best Answers 783 Points View Profile Best Answer Sweety Stay Original. 2020-11-15T08:50:06+05:30Added an answer on November 15, 2020 at 8:50 am About Real Time Market (RTM): The Ministry of Power and New & Renewable Energy has launched a pan-India Real Time Market in electricity. RTM is an organized market platform to enable the buyers and sellers pan-India to meet their energy requirement closer to real time of operation. Its also called Real-time Electricity Market (RTEM) . It enables consumers, including distribution companies (discoms) and captive users, to buy power on exchanges just an hour before delivery. So far, the shortest period of trading in electricity in the country has taken place a day ahead of the market. RTM would be for every 30 minutes in a day based on double-sided closed auction with uniform price. The concept of “Gate Closure” has been introduced for bringing in the desired firmness in schedules during the hours of market operation. Buyers/sellers shall have the option of placing buy/sell bids for each 15-minute time block. National Load Despatch Centre-POSOCO is facilitating necessary automation in coordination with power exchanges. 1 Reply Share Share Share on Facebook Share on Twitter Share on WhatsApp Leave an answerCancel replyYou must login or register to add a new answer. Related Questions Tell us about the Global Gender Gap Report 2021. Tell us about the Global Hunger Index 2020.