Context: As a first step towards Greening the Indian short-term power Market, pan-India Green Term Ahead Market (GTAM) in electricity has been launched.
Key Benefits of GTAM
- The introduction of the GTAM platform would lessen the burden on renewable energy (RE)-rich States and incentivize them to develop RE capacity beyond their own RPO.
- This would promote RE merchant capacity addition and help in achieving RE capacity addition targets of the country.
- GTAM platform will lead to an increase in the number of participants in the renewable energy sector.
- It will benefit buyers of RE through competitive prices and transparent and flexible procurement.
- It will also benefit RE sellers by providing access to the pan- India market
Green Term Ahead Market Contracts Will:
- Allow additional avenues to the RE generators for sale of renewable energy;
- Enable Obligated entities to procure renewable power at competitive prices to meet their Renewable Purchase Obligations (RPO); and
- Provide a platform to environmentally conscious open access consumers and utilities to buy green power.
Key Features of GTAM
- Transactions through GTAM will be bilateral in nature with clear identification of corresponding buyers and sellers, there will not be any difficulty in accounting for RPO.
- GTAM contracts will be segregated into Solar RPO & Non-Solar RPO as RPO targets are also segregated.
- Energy scheduled through GTAM contract shall be considered as deemed RPO compliance of the buyer.
