Intraday Electricity Market has been launched in Iran

  • 06 July 2020
  • 08:52
  • 6 Viewpoint
  • 1220 View
  • Article Rating
Intraday Electricity Market has been launched in Iran

After many technical meetings, lots of effort on software development, debating the regulatory issues, and providing the required infrastructure, IREMA has launched the testing operation of the Intraday Market since 21 June 2020. Intraday market brings many advantages that are mentioned here but not limited to: 
•    More accurate consideration of the power system limitation and taking into accounts the more recent events that occur after the day-ahead market closure such as generation unit failures, load forecast error, transmission system condition, and fuel data. 
•    Enhancing the competitiveness of the market by enabling the producers to sell the remaining generation capacity in the intraday market.
•    Increase the accuracy level of the input information such as declared generation capacity.
•    More sophisticated market schedule resulting from the updated input information.
•    Enabling the producers to reduce their penalties by adjusting the declared capacity. 
•    Establishing the cornerstone of the real-time market 
It is worth mentioning that the primitive draft of the intraday market instructions is under review by the stakeholders and we hope that in the near future, the official instruction is legislated by Iran Electricity Market Regulatory Board. 

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