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IEX gets ahead for green energy trading

IEX gets go ahead for green energy trading

Indian Energy Exchange (IEX) has received consent from Central Electricity Regulatory Commission (CERC), to commence the trading of green energy on its power trading platform, and will offer trade in four type of contracts- Green Intra-day contracts, Day- ahead contingency contracts, Daily contracts and weekly contracts. And there will be separate contracts for solar and non-solar energy. In context of green market it would be the first renewable energy trading center. Rajiv Srivastav managing director and chief executive officer of IEX, said “As India moves towards building a sustainable energy economy, we are excited about this new chapter which offers choice to consumers. It will play a key role in achieving the national renewable aspirations”.

IEX gets go ahead for green energy trading
IEX gets go ahead for green energy trading

IEX introduced real time electricity market (RTM) that help buyers to purchase electricity just an hour in advance which directly support seamless integration of renewable power and distribution utilities in trading through green market, will increase influx of renewable sell and help to meet renewable purchase obligations. State has annual mandatory renewable purchase obligation(RPO) target as a percent of their energy demand. According to Paris Climate Agreement 2016, India had to install 450 GW of renewable energy capacity by 2030. Furthermore consumers are more inclined towards sustainable energy then conventional resources globally. The introduction of green market on exchange platform in our country is significant for facilitating consumers to take a choice and helping nation to achieve green capacity targets.The energy economy is very significant in near future. India’s step towards Sustainable energy will help in achieving national renewable energy aspirations.
The introduction of Green Term-Ahead Market (G-TAM) along with the recently launched real-time trading in electricity will work to its zenith to support incessant integration of renewable energy. This new green trading market will support states with the option to sell abundant renewable energy, while the buyers will be able to procure energy as well as meet renewable purchase obligations. To conclude it is a beneficial platform for green trading practice.
IEX’s business model has established its brand and platform on the principles of transparency and fairness and will significantly help nation to achieve its goals of green economy.

IEX gets go ahead for green energy trading

Written by Team Ecolawgy

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