Current Affairs

Green-Term Ahead Market

Ministry of New and Renewable Energy has launched pan-India Green Term Ahead Market (GTAM) in electricity as a first step towards Greening the Indian short term power market.

Significance 

  • The introduction of GTAM platform would lessen the burden on RE-rich States and incentivise them to develop RE capacity beyond their own renewable purchase obligation (RPO). This would promote RE merchant capacity addition and help in achieving RE capacity addition targets of the country.
  • GTAM platform will lead to increase in number of participants in 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 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 

  • 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.
  • Further, within the two segments GTAM contracts will have Green Intraday, Day Ahead Contingency, Daily and Weekly Contracts.
  • Green Intraday Contract & Day Ahead Contingency Contract – Bidding will take place on a 15-minute time-block wise MW basis.
  • Energy scheduled through GTAM contract shall be considered as deemed RPO compliance of the buyer