Power Minister Launches Green Day Ahead Market

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26 October 2021 Current Affairs:Power Minister RK Singh on 25 October launched the green day-ahead market (GDAM), In a bid to further deepen the electricity trade in India.

♦ The launch will also present competitive price signals, besides offering an opportunity to the market participants to trade in green energy in the most transparent, flexible, competitive, and efficient manner.
♦ The big industries can go green, and the Government would make efforts to simplify business, and GDAM is a step in that direction.
♦ The Centre is working to implement the Green Hydrogen Mission.
♦ The market-based competitive prices will provide another option to renewable generators to sell power and accelerate the renewable capacity.
♦ The distribution utilities would also be able to sell surplus renewable power generated in their area.
♦ The obligated entities would also meet the RPO target by directly buying green power from the power exchange(s). 
♦ The non-obligated entities will be able to buy power voluntarily and help increase the share of green power.

Green Day Ahead Market
♦ GDAM will operate in an integrated way with the conventional day-ahead market. 
♦ The Exchanges will allow market participants to submit bids together for conventional and renewable energy through the separate bidding windows.
♦ The clearance will consecutively take place – renewable energy bids will be cleared first with the must-run status by the conventional segment. 
♦ This mechanism will allow renewable energy sellers to bid in the conventional segment if their bids remain voluntarily in the green market. 
♦ There will be separate price discoveries for both conventional and renewables.

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