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The workshop, organized by CER at IIT Kanpur, aimed to address challenges posed by the increasing share of renewables and market volatility in the power sector.
New Delhi: The Centre for Energy Regulation (CER) at the Indian Institute of Technology (IIT) Kanpur conducted a ‘Stakeholder Consultation Workshop’ on ‘Developing power market derivatives for the Indian power sector.’
The workshop was conducted at the India Habitat Centre in New Delhi on March 1, 2024. The event saw the gathering of key stakeholders and addressed the evolving dynamics of the Indian power sector. Discussions on exploring solutions that are innovative and developing risk mitigation strategies were held.
Professor Anoop Singh, Department of Management Sciences, IIT Kanpur, a leading authority in the field, presented the key outcomes of an ongoing study conducted by CER with support from the Shakti Sustainable Energy Foundation.
He also talked about the derivative product design, regulatory frameworks, and policy implications vital for successful implementation of power market derivatives in the country. He proposed an innovative approach to facilitate sector-wide participation in financially settled and physically delivered derivatives, aimed at mitigating risks encountered by DISCOMs, Open Access Consumers, and Thermal/RE generators.
Dr. Srikant Nagulapalli, Additional Secretary of the Ministry of Power, delivered the Keynote Address, acknowledging CER’s accomplishments in the study and highlighting the government’s initiatives for Renewable Energy (RE) integration and market development.
The event featured two insightful panel discussions and deliberations among esteemed industry professionals. The first panel, comprising representatives from the Central Electricity Authority, PTC India Ltd, Indian Energy Exchange, and EY Parthenon, explored the theme “Identifying Risks and Hedging Avenues in the Indian Power Market: Role of Derivatives.”
The second panel comprised of “Regulatory Framework for Power Market Derivatives,” with Professor Singh setting the stage through a presentation.Eminent panellists from the Punjab State Electricity Regulatory Commission, Central Electricity Regulatory Commission, Grid India, Securities and Exchange Board of India, and The Lantau Group offered valuable insights on the topic.
At the end of the workshop, there was a consensus on the potential of power derivatives to enhance market efficiency and manage risks in the Indian power sector, stated the press release.
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