Commenced on 26 Oct’21 by Honourable RK Singh, Minister of Power and New & Renewable Energy, GoI, the Green Day ahead Market allows anonymous & double sided closed collective auction in renewable energy on the day-ahead. The Exchange now invites bids for conventional and renewable in an integrated way through separate bidding windows. The clearing takes place in a sequential manner – first in the renewable segment having the must-run status, considering the availability of the transmission corridor, followed by conventional segment. IEX allows the market participants to transfer the unselected bid in renewable segment and at a different price.

Key Features

  1. Bid categories for Buyers & Sellers – Solar, Non-Solar and Hydro
  2. Separate quantity limit for sellers in each category i.e. Solar, Non-Solar and Hydro
  3. Participants at either premium or discount price can use ‘Order Carry forward (OCF)’ at the time of placing bid to carry forward uncleared bids to conventional DAM.
  4. Trading of 15- minute contracts
  5. Double-sided anonymous closed bidding auction
  6. Buyers and sellers submit NOC from respective SLDC based on availability of network
  7. Congestion management through market splitting and determination of ACP
  8. Separate price formation for green and conventional power.
  9. Risk management through the requisite margin, including any additional margin as specified for the respective trading segment or the type of contract.