An electric power trading model for Indian electricity market

In electric industry restructuring process, the main issue is to run the system in free and fair manner ensuring the desired quality of power to the consumers at most economical price through safe, secure and reliable operation of the power system. Although a number of market models are prevalent in the International arena, the same could not be directly adopted for Indian markets. Rather, a careful study of the existing models is to be carried out to evolve a model suitable to Indian conditions, which is easy to adopt, sustain and to take care of existing participants. With the enactment of Electricity Act 2003, along with other recent initiatives, Government of India has outlined the counters of a suitable enabling framework for the overall development of wholesale electricity market by introducing competition at various sectors. A restructured power trading model for Indian scenario within the boundary of legal framework is proposed in this research work. The proposed model is developed after in-depth discussions with major power traders in Indian electricity market to overcome most of the major issues currently faced by them