Short-Term Power Market Expands 12%
POWER & RENEWABLE ENERGY

Short-Term Power Market Expands 12%

India’s short-term power market has experienced a 12% growth in fiscal year 2024, reaching 218 billion units (BU), reflecting increased demand for flexible power solutions. Renewable energy contributed significantly, supplying 32.5% of the total grid capacity, a milestone that underscores India’s transition towards greener energy sources. This growth in the short-term market, which includes electricity trading for immediate or near-term delivery, highlights the increasing role of renewables in meeting dynamic power demands and stabilizing the grid.

The growth is attributed to several factors, including an increase in industrial power requirements and higher temperatures that drive electricity usage. The short-term market has seen enhanced participation from both traditional power suppliers and renewable energy producers, indicating a balanced diversification of sources. The Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL) have played a significant role in facilitating these transactions, ensuring more accessible and competitive pricing.

Renewables, primarily solar and wind, are increasingly favored in the short-term power market due to their decreasing costs and scalability. This shift aligns with India’s broader commitment to achieving 500 GW of non-fossil fuel capacity by 2030. The market's evolution towards renewable-driven energy is also anticipated to reduce dependence on coal-based power, contributing to lowered carbon emissions and enhancing grid resilience.

With a growing emphasis on efficient grid management and the continued expansion of renewable infrastructure, India’s short-term power market is poised for further growth, setting a strong precedent for sustainable energy integration.

India’s short-term power market has experienced a 12% growth in fiscal year 2024, reaching 218 billion units (BU), reflecting increased demand for flexible power solutions. Renewable energy contributed significantly, supplying 32.5% of the total grid capacity, a milestone that underscores India’s transition towards greener energy sources. This growth in the short-term market, which includes electricity trading for immediate or near-term delivery, highlights the increasing role of renewables in meeting dynamic power demands and stabilizing the grid. The growth is attributed to several factors, including an increase in industrial power requirements and higher temperatures that drive electricity usage. The short-term market has seen enhanced participation from both traditional power suppliers and renewable energy producers, indicating a balanced diversification of sources. The Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL) have played a significant role in facilitating these transactions, ensuring more accessible and competitive pricing. Renewables, primarily solar and wind, are increasingly favored in the short-term power market due to their decreasing costs and scalability. This shift aligns with India’s broader commitment to achieving 500 GW of non-fossil fuel capacity by 2030. The market's evolution towards renewable-driven energy is also anticipated to reduce dependence on coal-based power, contributing to lowered carbon emissions and enhancing grid resilience. With a growing emphasis on efficient grid management and the continued expansion of renewable infrastructure, India’s short-term power market is poised for further growth, setting a strong precedent for sustainable energy integration.

Next Story
Resources

Skyview by Empyrean is Making Benchmarks in the Indian Ropeway Industry

FIL Industries Private Limited, the parent company of Empyrean Skyview Projects that pioneered ropeway mobility solutions in India with Jammu’s Skyview Gondola, is currently developing the Dehradun-Mussoorie ropeway and is on track to complete Phase I by September 2026. The ropeway is set to be India’s longest passenger aerial monocable covering 5.8 km between the foothills of Dehradun in Purkulgam and MDDA taxi stand in the hills of Mussoorie in just under 20 minutes. The firm pioneered green mobility solutions in India with the development of the flagship Skyview Gondola in Jam..

Next Story
Technology

Creativity is for Humans, Productivity is for Robots!

On most construction sites, the rhythm of progress is measured by the clang of steel, the hum of machinery and the sweat of thousands. But increasingly, new sounds are entering the mix: the quiet efficiency of algorithms, the hum of drones overhead, and the precision of robotic arms at work. Behind the concrete and cables, an invisible force is taking hold: data. It is turning blueprints into living simulations, managing fleets of machines, and helping engineers make decisions before a single brick is laid. This is not the construction of tomorrow; it is the architecture of today – built on ..

Next Story
Infrastructure Urban

Bhartiya Urban Unveils ‘Bhartiya Converge’ GCC Enablement Platform

Bhartiya Urban has launched Bhartiya Converge, its latest business venture designed to become India’s premier platform for enabling Global Capability Centres (GCCs). The initiative offers an integrated ecosystem aimed at helping global clients gain a competitive edge in today’s rapidly evolving business environment. Focused on enhancing turnaround time and operational efficiencies, the company seeks to deliver better business outcomes powered by top-tier talent. Bhartiya Converge presents a customised and integrated suite of microservices that addresses the nuanced and evolving operational..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?