Term – Ahead Market is another collective type product of IEX after Day-Ahead Market. IEX is India’s premier power trading platform. Today, over 5000+ participants across utilities from 29 states, 5 Union Territories are leveraging the exchange platform to manage their power portfolio.

Term-Ahead Market is totally different from Day-Ahead Market. Term-Ahead Market is launched in September 2009, TAM contracts cover range for buying/selling electricity for duration of up to 11 days. As in Day-Ahead Market there is only one type of contract that is intra-day contract in that participants can bid only from 1000hrs. to 1200hrs. In TAM there are Four type of contracts:

  • Intra-day Contract: In this participants can purchase electricity for the same day. The contracts are available for trading from 00:30hrs. to 20:00hrs.
  • Day-Ahead Contingency: In this participants can purchase electricity for the next day. The contracts are available for trading from 15:00hrs. to 23:00hrs.
  • Daily Basis: In this participants can purchase electricity on daily basis for rolling seven days through daily contracts.
  • Weekly Contracts: In this participants can purchase electricity for the on weekly basis

Salient Features of TAM:

    • Trading of Region specific contracts
    • Firm Delivery: The contracts under TAM can be used to ensure delivery of electricity for few days in advance.
    • Delivery Blocks: | RTC | Day | Night | Peak | Hourly |

FBA — Firm Base – 24 Hrs.
FNT — Firm Night – 8 Hrs. (0-7 & 23-24)
FDY — Firm Day – 11Hrs. (7-18)
FPK — Firm Peak – 5 Hrs. (18-23)

  • Risk Management by collection of margins as specified in the Bye-Laws, Rules and Business Rules of the Exchange.

TAM provides a range of products allowing participants to buy/sell electricity on a term basis for duration of up 11 days ahead.
The operations are carried out in accordance with the “Procedures for Scheduling of Bilateral Transactions” issued by the Central Transmission Utility (PGCIL), under “CERC (Open Access in inter-State Transmission) Regulations, 2008”, as amended from time to time and the BYE-Laws, Rules and Business Rules of the Exchange.