Panel of experts proposes plan to revamp Indian Power Market

16 May 2023 CW Team

The proposed measures involve demand response and aggregation, fortifying market monitoring and surveillance activities, and introducing a regional-level balancing system for managing deviations. The panel is led by the Power Secretary and comprises representatives from different ministries, regulatory bodies, and state governments. The group has submitted its report to R K Singh, Union Power Minister, outlining a roadmap and specific recommendations for redesigning India's electricity market of the future. The roadmap includes interventions for the near, medium, and long term, such as setting up a mechanism to monitor supply adequacy, improving the efficiency of the Day-ahead Market, implementing a market-based mechanism for secondary reserves, and introducing 5-minute-based metering, scheduling, dispatch, and settlement.

Singh stressed the need to secure the most effective power generation capacity while devising capacity contracts and concurred with the recommendation of long-term power purchase agreements lasting 12-15 years. He proposed that new renewable capacity expansions should use the Contract for Difference methodology to ensure competitiveness and transparency.

As per the latest figures, the total traded volume in the Indian electricity market in 2023 was only a small fraction of the energy produced from all sources. The peak demand for electricity in 2022-23 was 215.8 GW, projected to rise to 335 GW by 2030.

Also read:
Torrent Power forms TU14 for power generation and trading
Godrej & Boyce expands its portfolio, secures Rs 20 bn

A panel of experts appointed by the Ministry of Power has suggested comprehensive solutions to tackle key issues in India's electricity market such as long-term contracts, resource adequacy planning, and increasing the proportion of renewable energy in the overall energy mix. The objective is to establish an efficient, optimal, and dependable market framework that would facilitate the transition to renewable energy and its integration into the grid. The proposed measures involve demand response and aggregation, fortifying market monitoring and surveillance activities, and introducing a regional-level balancing system for managing deviations. The panel is led by the Power Secretary and comprises representatives from different ministries, regulatory bodies, and state governments. The group has submitted its report to R K Singh, Union Power Minister, outlining a roadmap and specific recommendations for redesigning India's electricity market of the future. The roadmap includes interventions for the near, medium, and long term, such as setting up a mechanism to monitor supply adequacy, improving the efficiency of the Day-ahead Market, implementing a market-based mechanism for secondary reserves, and introducing 5-minute-based metering, scheduling, dispatch, and settlement. Singh stressed the need to secure the most effective power generation capacity while devising capacity contracts and concurred with the recommendation of long-term power purchase agreements lasting 12-15 years. He proposed that new renewable capacity expansions should use the Contract for Difference methodology to ensure competitiveness and transparency. As per the latest figures, the total traded volume in the Indian electricity market in 2023 was only a small fraction of the energy produced from all sources. The peak demand for electricity in 2022-23 was 215.8 GW, projected to rise to 335 GW by 2030. Also read: Torrent Power forms TU14 for power generation and tradingGodrej & Boyce expands its portfolio, secures Rs 20 bn

Infrastructure Urban

13 Oct 2025

Recycling Leaders Push for Policy Reforms in India

As India prepares for the largest recycling-focused event in its history, industry leaders are making a strong case for policy reforms to unlock the country’s circular economy potential. Ahead of the Bharat Recycling Show (BRS) 2025, co-located with Plastics Recycling Show (PRS) India, a high-level panel discussion in Mumbai spotlighted the urgent need for regulatory clarity, digital innovation, and integration of the informal sector.Held under the theme “Unlocking Circular Value: Regulatory and Market Trends in Recycling”, the panel brought together prominent voices from across the recy..

Infrastructure Energy

13 Oct 2025

Environmental Hearing Set for 1000 MW Naying Hydro Project

The environmental public hearing for the 1,000 MW Naying hydroelectric project will take place on November 12 at Yapik community hall in Shi-Yomi district, Arunachal Pradesh, officials confirmed. The run-of-the-river project on the Siyom (Yomgo) river is being developed by the North Eastern Electric Power Corporation (NEEPCO). Construction, including a concrete dam, underground powerhouse, and tunnel, is expected to commence around 2028, with commissioning planned by 2032. The project aims to generate approximately 4,966.77 GWh of electricity. The Naying project received Central Electricity ..

Infrastructure Energy

13 Oct 2025

India Achieves 490 MWh Energy Storage Capacity by June 2025

India’s cumulative energy storage capacity reached 490 MWh by June 2025, according to data released by the Central Electricity Authority (CEA). Of this, more than 85 per cent is associated with renewable energy projects, primarily solar and wind, reflecting the country’s accelerated shift towards grid stability and clean energy integration. The CEA report highlights that 16 energy storage systems are currently operational across 10 states, with major installations in Rajasthan, Gujarat, Karnataka, and Maharashtra. These include both standalone and co-located battery systems deployed by le..