CEA supports removal of intraday contracts from power exchanges

12 Nov 2024 CW Team

The Term Ahead Market (TAM) allows for short-term power procurement for delivery periods ranging from T+2 to T+90 days. CEA’s review of this market revealed irregular trading patterns, such as limited transactions and last-minute bids, raising concerns over possible market manipulation. CEA proposes extending the bidding window to curb last-minute activity and suggests limiting trading days for monthly and weekly contracts to improve liquidity.

Additionally, CEA has proposed capping the number of daily contract deliveries to six days per trading session, allowing greater standardization and competition in the market.

The DAC market, which operates from 13:00 to 23:30, faces similar liquidity issues, exacerbated by a long trading window and the ability for participants to submit customised delivery bids. CEA recommends restructuring the DAC into three sessions: 13:00-15:00, 17:00-19:00, and 21:00-23:00, to improve liquidity and cater to late-day contingencies. The CEA also suggests eliminating the non-standard DAC Dynamic product and prioritising national-level bids to address transmission congestion.

The draft order outlines timelines for ADSS contracts but only sets maximum time limits for key stages like the bid-receiving period and IPO auction. CEA recommends introducing minimum time limits for better transparency and competition, as well as restricting the reverse auction to regular business hours.

These recommendations aim to streamline the power trading market, enhance liquidity, and promote competitive bidding, ultimately supporting the growth of a more efficient and transparent power sector. (Mercom)

The Central Electricity Authority (CEA) has endorsed the Central Electricity Regulatory Commission’s (CERC) draft order, which addresses issues related to price discovery, market liquidity, and contract structuring on power exchanges. The draft proposes the removal of intraday contracts due to their low liquidity, as well as the growing popularity of the real-time market as an alternative. CEA believes this move will help consolidate and streamline the fragmented market. The Term Ahead Market (TAM) allows for short-term power procurement for delivery periods ranging from T+2 to T+90 days. CEA’s review of this market revealed irregular trading patterns, such as limited transactions and last-minute bids, raising concerns over possible market manipulation. CEA proposes extending the bidding window to curb last-minute activity and suggests limiting trading days for monthly and weekly contracts to improve liquidity. Additionally, CEA has proposed capping the number of daily contract deliveries to six days per trading session, allowing greater standardization and competition in the market. The DAC market, which operates from 13:00 to 23:30, faces similar liquidity issues, exacerbated by a long trading window and the ability for participants to submit customised delivery bids. CEA recommends restructuring the DAC into three sessions: 13:00-15:00, 17:00-19:00, and 21:00-23:00, to improve liquidity and cater to late-day contingencies. The CEA also suggests eliminating the non-standard DAC Dynamic product and prioritising national-level bids to address transmission congestion. The draft order outlines timelines for ADSS contracts but only sets maximum time limits for key stages like the bid-receiving period and IPO auction. CEA recommends introducing minimum time limits for better transparency and competition, as well as restricting the reverse auction to regular business hours. These recommendations aim to streamline the power trading market, enhance liquidity, and promote competitive bidding, ultimately supporting the growth of a more efficient and transparent power sector. (Mercom)

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Infrastructure Energy

06 Apr 2026

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

Real Estate

06 Apr 2026

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..