Day a-head Market is collective type product of IEX. IEX – Indian Energy Exchange LTD is India’s premier power trading platform. Providing automated for physical delivery of electricity. Today Over 5800 participants are leveraging the exchange platform to manage their power portfolio.
Day-Ahead Market is launched in 2008. In this segment participants transact electricity on 15-minutes block-basis, a day prior to the delivery of electricity. In this Market buyers and sellers submit their anonymous bid electronically during the bid call session. The Market Clearing Price(MCP) is determined on the basis of intersection point of demand and supply for both buyers and sellers. Day- Ahead Market is physical electricity trading market for deliveries for any or some or all 15-minute time blocks in 24 hours of next day starting from midnight.

The Main features of Day – Ahead Market:

• Trading of 15-minutes contracts.
• Double-sided anonymous auction bidding process.
• Clearance obtained from SLDC by buyers and sellers based on availability of network and ABT meters.
• Congestion Management through market splitting and determining Area Clearing Price (ACP) specific to an area.
• Risk Management through the requisite Margin, including any additional Margin as specified for respective trading segment or the type of contracts.

These operations are carried out in accordance with the “PROCEDURE FOR SCHEDULING OF COLLECTIVE TRANSACTION” issues by the CENTERAL TRANSMISSION UTILITY (PGCIL), ‘CERC (Open Access in in Inter-State Transmission)’ Regulations, 2008 as amended from time to time and the Bye-Laws, Rules and Business Rules of Exchange.