CURRENT AFFAIRS

Detailed explanation-1: -Q. Which Union Ministry launched the ‘Green Day Ahead Market (GDAM)’? Notes: The Union Ministry of New and Renewable Energy launched a new market segment named Green Day Ahead Market (GDAM). It will enable electricity generation and distribution companies to buy or sell renewable energy through open access.

Detailed explanation-2: -The Indian Energy Exchange (IEX) and the Power Exchange India (PXIL) introduced the Green Day Ahead Market (GDAM) in October 2021, a market segment that enables participants to purchase electricity on a day-ahead basis.

Detailed explanation-3: -The Green-Term Ahead Market (G-TAM) is a new market segment for trading in renewable energy following the CERC approval. The new market segment features contracts such as Green-Intraday, Green-Day-ahead Contingency (DAC), Green-Daily and Green-Weekly.

Detailed explanation-4: -Day-Ahead-Market (DAM) is a physical electricity trading market for deliveries for any/some/all 15 minute time blocks in 24 hours of next day starting from midnight. The prices and quantum of electricity to be traded are determined through a double sided closed auction bidding process.

Detailed explanation-5: -As a first step towards Greening the Indian short term power market, the Ministry of Power and New & Renewable Energy (MNRE) has launched pan-India Green Term Ahead Market (GTAM) in electricity.