Since 2003 when the electricity market in India opened up to private investment, variety of market mechanisms also came up along with it. Long term power purchase agreements have been backbone of power supply in the country. But other short and medium terms contracts have helped meeting sudden demand surge, acted as bridge supply and lately given sale options for renewable energy. Similar contracts have now emerged in the Gas market as well.
To understand how the Indian energy trading market works, how it can be made more efficient and real-time, we talked with Rajesh K Mediratta. Mediratta is a sector veteran and has worked with Load Despatch Centres, power system operator and has been instrumental in launching India's first electricity trading platform - Indian Electricity Exchange. He is currently MD and CEO, Indian Gas Exchange.