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

04 Dec 2025

ISRO’s IMAT Success Boosts Readiness for Maiden Gaganyaan Mission

Union Minister of State for Science and Technology Dr Jitendra Singh informed Parliament that ISRO has achieved a key milestone in its preparations for India’s first human space mission with the successful completion of the Integrated Main Parachute Airdrop Test (IMAT). He said in the Lok Sabha that the test forms a central part of the qualification campaign for the Crew Module’s parachute-based deceleration system, one of the most vital elements in human-rating the mission.According to Dr. Jitendra Singh, the IMAT recreated one of the most demanding descent conditions by intentionally del..

Infrastructure Urban

04 Dec 2025

Gyanesh Kumar Takes Charge as Chair of International IDEA Council

Chief Election Commissioner of India Gyanesh Kumar has assumed the Chairship of the Council of Member States of the International Institute for Democracy and Electoral Assistance for 2026. The ceremony in Stockholm was also attended by India’s Ambassador to Sweden, Anurag Bhushan. India, a founding member of International IDEA, has long contributed to the organisation’s governance and global democratic dialogue, and the new Chairship signals broad recognition of the Election Commission of India as a trusted and innovative election management institution.During his visit, Kumar held discuss..

Infrastructure Energy

04 Dec 2025

Coal Mines Boost Local Growth and Support India’s Energy Self-reliance

The Magadh and Amrapali coal mines in Jharkhand are playing a pivotal role in strengthening India’s energy security, contributing nearly half of Central Coalfields Limited’s total coal production in 2024–25. Both mines support the broader goal of ensuring steady coal availability for the power sector under the vision of Aatmanirbhar Bharat. Magadh has estimated mineable reserves of 854.91 million tonnes, while Amrapali holds 456.34 million tonne. For FY 2025–26, the two are expected to generate net sales revenues of Rs 28.12 billion and Rs 23.67 billion respectively. Local development ..