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

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..