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GREEN TERM AHEAD MARKET (GTAM)

Focus: Prelims, GS-III Environment and Ecology

Why in news?

As a first step towards Greening the Indian short-term power Market – the Minister of State (IC) Power and New & Renewable Energy & Minister of State (Skill Development and Entrepreneurship), launched pan-India Green Term Ahead Market (GTAM) in electricity.

Introduction to GTAM

The Government of India’s target of 175 GW RE Capacity by 2022 is driving accelerated renewable penetration pan-India.

  1. Green Term Ahead Market contracts will:
    Allow additional avenues to the RE generators for sale of renewable energy;
  2. Enable Obligated entities to procure renewable power at competitive prices to meet their Renewable Purchase Obligations (RPO);
  3. Provide a platform to environmentally conscious open access consumers and utilities to buy green power.

Benefits of GTAM

  • The introduction of GTAM platform would lessen the burden on RE-rich States and incentivize them to develop RE capacity beyond their own 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

Key features of GTAM:

  • 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.
  • Price discovery will take place on a continuous basis i.e. price time priority basis. Subsequently, looking at the market conditions open auction can be introduced for daily & weekly contracts.
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October 2022
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