Roadmap outlined by power ministry panel to develop electricity market

16 May 2023 CW Team

A panel appointed by the Ministry of Power has recommended a plan of action to develop the electricity market in India. The plan includes short, medium, and long-term interventions. The suggested interventions involve setting up a system to ensure that state utilities maintain an adequate supply of electricity, improving the efficiency of the Day-ahead Market, introducing a market-based mechanism for secondary reserves, and implementing 5-minute metering, scheduling, dispatch, and settlement.

The proposed changes also include demand response and aggregation, which could reduce reserve requirements and lower electricity costs, according to a statement released by the Ministry of Power.

To prevent price volatility and track participation, market monitoring and surveillance activities will be strengthened. A regional-level balancing framework for managing deviations will also be implemented, which will reduce deviation penalties for states at the ISTS level and, consequently, lower the reserve requirements.

The Ministry formed a group chaired by S Alok Kumar, Power Secretary, to develop the electricity market in India, with representatives from the Ministry of Power, Ministry of New & Renewable Energy, Central Electricity Authority, Central Electricity Regulatory Commission, Grid Controller of India (Grid-India), and state governments.

The group presented the report to R K Singh, Union Minister of Power and New & Renewable Energy.

The group also proposed solutions to address key issues such as inflexible long-term contracts, leveraging the diversity of a large and synchronous grid, and the need for Resource Adequacy planning in the Centre and States.

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

Real Estate

03 Apr 2026

Loomcraft Enters South India with Kerala Store Launch

Loomcraft has launched its exclusive store in Kerala, marking its entry into South India and a key step in its nationwide expansion strategy. The move targets a region driven by tourism and premium real estate demand, where outdoor spaces play a central role in hospitality and residential experiences.Kerala’s growing base of luxury resorts, boutique hotels, villas and gated communities has created strong demand for specialised outdoor furniture. However, the region has remained underserved, with buyers relying on imports or generic products not suited to humid, coastal and monsoon-heavy cond..

Mild Steel Prices Seen Rising to Rs 61,000 Per Tonne

Mild steel prices in India, currently around Rs 58,000 per tonne, are expected to rise to nearly Rs 61,000 per tonne in April, indicating an increase of about Rs 3,000 per tonne. The anticipated rise reflects structural pressures driven by geopolitical tensions, energy constraints and limited raw material availability.Ongoing global conflict has disrupted energy markets, leading to LNG shortages that are affecting domestic steel production. Small and mid-sized manufacturers, particularly those dependent on gas-based processes, are witnessing production cuts due to constrained energy supply, re..

Vedanta Expands Transgender Workforce to 75 Employees

Vedanta has strengthened its commitment to workplace inclusion by employing 75 transgender individuals across its businesses, including Vedanta Aluminium, Hindustan Zinc, Sesa Goa, FACOR and Cairn Oil & Gas. The initiative reflects sustained hiring efforts since 2022 to build equitable opportunities across operations, corporate and technical roles.Transgender employees are engaged in functions such as operations, finance, logistics, HR, CSR, healthcare and security, with provisions for internal mobility to support career progression. The company has implemented structured policies, includi..