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.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Sabarmati Riverfront Two Plots Up for Auction at Rs2.24 bn Base Price

Two commercial plots on the western bank of the Sabarmati Riverfront will be auctioned with a base price of Rs 112 crore each, equivalent to Rs 1.12 bn apiece and Rs 2.24 billion in total. The parcels are located adjacent to the Metro Rail Bridge in Ahmedabad and form the first commercial offering after a prolonged pause. The Riverfront Development Corporation has framed the sale as part of a phased commercial release to revive development along the riverfront. The combined base valuation has been set by the corporation to reflect market rates along the riverfront. The corporation has fixed a ..

Next Story
Infrastructure Urban

Andhra Pradesh to Connect Over One Million Streetlights

Andhra Pradesh will undertake a statewide smart streetlighting programme across all 123 Urban Local Bodies (ULBs), bringing around 1.05 million (mn) streetlights under an AI enabled monitoring and management system. The programme will be implemented by Energy Efficiency Services Limited (EESL) with the Commissioner and Director of Municipal Administration under the state Municipal Administration and Urban Development Department. The project aims to convert conventional streetlighting into a digitally managed municipal service monitored and maintained remotely. The initial phase will cover abou..

Next Story
Infrastructure Urban

AMC To Procure Four Machines For Guard Rail Cleaning

Ahmedabad Municipal Corporation will introduce four specialised machines for cleaning guard railings along major roads and the central verges of BRTS and Metro corridors. The civic body plans to replace manual labour with mechanised cleaning to improve maintenance of road infrastructure and greenery. The purchase is estimated at Rs 82.8 million (mn), excluding GST. The proposal sets the base price of each machine at about Rs 20.7 million (mn) so four units total Rs 82.8 million (mn) before GST. 18 per cent GST will be applicable separately. During the warranty period each machine will operate ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement