New Delhi, Dec 20: Power Exchange India Ltd (PXIL) on Monday announced the launch of Integrated Day Ahead Spot market (I-DAS), a collective transaction, which integrates transactions for renewable energy (RE) along with conventional energy.
“India’s first institutionally promoted power exchange, Power Exchange India Ltd (PXIL), has launched the Integrated Day Ahead Spot market (called I-DAS), a collective transaction that integrates transactions for Renewable Energy (RE) along with conventional energy,” PXIL said in a statement.
The I-DAS offers market participants the convenience of submitting orders for transacting in RE as well as Conventional power in the same bidding window, according to the statement.
The matching algorithm is designed to discover separate prices for both RE and conventional segments, thus offering an integrated contract to the participants.
The I-DAS contract enables an integrated transaction processing in RE and conventional segments in the most transparent, flexible, competitive and efficient manner.
Transactions on the platform are executed in a sequential manner where RE orders will be cleared first, followed by merging of uncleared orders from the RE segment with other orders received in the conventional segment.
This provides an opportunity for both RE sellers and buyers to transact power under any segment and thus optimise their portfolio.
PXIL MD and CEO Prabhajit Kumar Sarkar said in the statement, “I-DAS is yet another addition to our offerings intended to strengthen the power market ecosystem in the country. I-DAS provides an additional option to RE generators to sell power directly in the market thus creating a more robust market mechanism while ensuring better price discovery.”
Sarkar added that the best part of I-DAS is that it enables obligated entities like distribution licensees, open access consumers and captive power consumers to meet RPO target by purchasing RE power throughout the year.
I-DAS is expected to reduce curtailment of RE power and help unlock untapped RE potential while ensuring prompt payment to RE generators. (PTI)
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