❖ The report on the short-term power market in India 2023-24 was released by the Central Electricity Regulatory Commission (CERC).

❖ CERC had approved the introduction of High Price Day Ahead Market (HP-DAM) in February 2023.

❖ The dedicated market segment was introduced to enable high-cost generators, who have otherwise not been able to participate in the day-ahead market due to the existing price ceiling.

❖ Tamil Nadu Generation and Distribution Corporation (Tangedco) was the major buyer of electricity from the High Price Day Ahead Market in power exchanges. ❖ Total Volume transacted through High Price Day Ahead Market in Indian Energy Exchange was about 32.07 million units (MU) in 2023-24.

❖ TANGEDCO accounted for 20.98 MU or 65.43%.

❖ TANGEDCO’s weighted average purchase power was ₹ 17.65 per unit, as per the report.

❖ The State’s power demand hit a new record, touching an all-time-high of 20,830 MW on May 2.

❖ The daily consumption hit a new high of 454.32 MU on April 30.