In the past few years, most of the electricity industries around the world have been undergoing a movement from monopoly utilities to restructured competitive electricity markets. At present time, the operation of electricity markets all over the world varies from one country to another. Indian electricity market is trading with power transactions through power exchanges. Practically, Indian power market structure consists of the central generating station, state generation and power producers. This paper describes the methodology to utilise the central generating station and state owned generation in addition with the power procured from independent power producers to meet the daily load demand. Market clearing price for various load conditions has been analysed in both supply side and demand side bidding scenarios for block bid trading model.
Keywords: electricity trading, double sided auction, bidding strategy, market clearing price, MCP, block bid, national electricity policy