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Green Day Ahead Market

Overview

What is Green Day Ahead Market?

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

Market Participants

All eligible Buyers and Sellers from Solar, Non-Solar and Hydro generation source can participate in GDAM. Separate quantity limit for sellers in each category i.e. Solar, Non-Solar and Hydro need to be provided to Exchange through NOAR.

Order Carry forward (OCF) Facility

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

Bidding Methodology

Bidding 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.