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Central Electricity Regulatory Commission (CERC) Seeks Feedback on IEX’s Proposal for Green Real-Time Market to Boost Renewable Trading
Apr 17, 2025
The Central Electricity Regulatory Commission (CERC) has invited public comments by April 23, 2025, on a new proposal from the Indian Energy Exchange (IEX) to launch a Green Real-Time Market (G-RTM) aimed at addressing unmet demand and variability in renewable energy generation.
In FY 2024, IEX traded approximately 2.5 billion units (BUs) of green power on its Green Day Ahead Market, while purchase bids reached 16.5 BUs—highlighting that nearly 72% of green energy demand went unfulfilled. IEX has now proposed the G-RTM to provide a more flexible, time-sensitive platform for real-time renewable energy trading. The market is designed to address the inherent variability of renewables and enable power sale from merchant projects and obligated entities under Renewable Purchase Obligations (RPOs).
The proposed G-RTM will function alongside the existing Real-Time Market (RTM), but with separate price discovery for green and conventional power. Any unsold power in G-RTM can be migrated to the broader RTM. It will use a double-sided, closed-bid auction system, with trading occurring every 15 minutes, followed by a 15-minute break, and power delivery every 30 minutes (split into two 15-minute slots).
Price discovery will follow a two-step process, establishing a uniform market clearing price. Sellers can enter bids as low as Rs1/MWh, with a minimum volume of 0.1 MW. Both grid-connected generators and open access consumers can participate. G-RTM will also qualify towards RPO compliance.
The proposal has gained support from several industry stakeholders, citing the market’s potential to enhance liquidity, increase flexibility, and help integrate more renewable energy into the grid. Simultaneously, REC trading frequency may also increase as per a recent announcement by the Grid Controller of India, indicating broader efforts to improve market access and clean energy compliance mechanisms.