About Us Investors Career Sustainability IEX Academy

Day Ahead Market

Overview

What is Day Ahead Market?

The Day Ahead Market (DAM) which is a part of Integrated Day Ahead Market (I-DAM) is a physical electricity trading market which allows market participants to buy and sell electricity for the next day. The prices and quantum of electricity to be traded are determined through a double-sided closed auction bidding process.

Market Participants

Any Buyers and Sellers who are grid connected entities and have valid standing clearance from respective SLDC/RLDC through NOAR can participate in DAM.

Order Carry forward (OCF) Facility

Participants can use ‘Order Carry forward (OCF)’ at the time of placing bid to carry forward uncleared bids from DAM to HPDAM at a premium price.

Matching Methodology

Matching methodology is based on double-sided anonymous closed bidding auction powered by MILP engine.

Congestion management

Congestion management through market splitting and determination of ACP. Separate price formation for congested bid area and rest of India.

Risk management

Risk management through the requisite margin, including any additional margin as specified for the respective trading segment or the type of contract.