HPX Launched Day Ahead Market, Green Day Ahead Market and Real Time Market
With the launch of these segments HPX will enhance its portfolio to six segments, thereby further strengthening its services. The
Hindustan Power Exchange (HPX), India’s fastest power exchange promoted by PTC India Ltd, Bombay Stock Exchange, and ICICI Bank, launched Day Ahead Market (DAM), Green Day Ahead Market (G-DAM) & Real Time Market (RTM). With the launch of these segments HPX will enhance its portfolio to six segments, thereby further strengthening its services.
The new segments will enable HPX’s customers to meet their multiple trading needs and discover better price for power transactions.
Day Ahead Market (DAM) is a delivery-based contract that offers spot transaction of electricity to market participants that helps them to manage power procurement portfolio on day ahead basis and sets a benchmark reference price for the market. Under Real Time Market (RTM), HPX will help its customers meet their electricity requirement on real time basis. The seamless and reliable platform of HPX will enable customers to manage their last minute supply-demand gap of electricity through the RTM route.
Green Day Ahead Market (G-DAM) is the third segment which was launched today by HPX. The segment will help the sellers and buyers to submit sale or purchase bids for renewable energy each day; the electricity would be delivered the following day. The segment is aimed at providing a seamless platform for renewable energy producers including solar, non-solar as well as hydro power, to sell electricity with optimized price discovery.
Currently, more than 175 members are already registered on HPX, which are expected to participate in these segments to meet their trading needs.
Speaking on the launch, Mr Akhilesh Awasthy, COO HPX said, “We are overwhelmed by the support we have received from the market participants in the past three weeks post the launch of HPX. The strong and consistent increase in the number of members holds testimony to trust of customers on our platform. We would continue to strive for excellence in operations and provide for fast, reliable and transparent transactions with end-to-end settlement. The three new segments will help us in providing complete bouquet of services to the market participants”.
Backed by the latest technology and a series of innovative features, the newest power exchange of India delivers fastest transactions, transparency, and better price discovery in the execution of trades. It is steadily increasing its product portfolio and is set to provide a wide range of contracts to address the demand of different segments of the electricity market.
HPX was launched with Contingency Market segments (Intra Day & Day Ahead Contingency) on July 06, 2022. The cumulative traded volume at the exchange stands at about 200 MUs since the commencement, achieving an average market share of about 25% in the contingency Market.