Kolkata, August, 2026: Hindustan Power Exchange Limited (HPX), under the aegis of the Eastern Regional Power Committele (ERPC), hosted a One-Day Conference on “Emerging Reforms in the Indian Power Market” at the ERPC Conference Hall in Kolkata. The conference brought together stakeholders from across the electricity sector to deliberate on regulatory, structural and market developments shaping India’s evolving power market.
Designed to facilitate dialogue, the conference focused on issues influencing the functioning and direction of competitive electricity markets. Discussions covered the workflow of power exchanges for buyers and sellers, including bid submission, market clearing through Market Clearing Price and Market Clearing Volume, scheduling, power delivery and financial settlement. Participants examined how greater clarity and efficiency across these processes can support transparent, reliable and responsive electricity markets.
A session examined the buy-out mechanism, with participants discussing its regulatory framework, operational considerations and implications for market participants. The deliberations highlighted the need for clear processes, safeguards and coordination among stakeholders to ensure that mechanisms strengthen discipline while maintaining system reliability and protecting the interests of consumers and participants.
Another area of discussion was the capacity market, where speakers considered international experiences, India’s preparedness and the way forward. The session explored how capacity-based arrangements could complement energy markets, support resource adequacy and provide incentives for generation and resources. Participants reflected on the importance of adapting international approaches to India’s regulatory, operational and market conditions.
Addressing the theme of emerging reforms in the Indian power market, the conference discussed innovations, policy developments and the evolving role of competitive electricity markets. Participants emphasised that regulatory reforms need to be accompanied by market awareness, stakeholder engagement, technological readiness and implementation. Such platforms are important for translating policy intent into market outcomes and enabling participants to prepare for the changing electricity landscape.
Speaking on the occasion, Mr. Harish Saran, Managing Director of HPX said, “The conference provides a platform to exchange perspectives on reforms that can make India’s power market efficient, transparent.” He added that engagement among exchanges, utilities, generators, transmission and operators, regulators and market participants would be essential to build a competitive electricity market.
Shri K. B. Jagtap, Member Secretary, North Eastern Regional Power Committee, expressed his appreciation to HPX for organising the event and for their valuable efforts in bringing together key stakeholders from the power sector. He also highlighted the importance of balancing market efficiency with system reliability and security, stating, “Market efficiency and grid security must go together. A well-designed market will help us to have our power system secure, reliable, flexible and economically sustainable.”
The conference concluded with a discussion and Q&A, followed by a vote of thanks. The programme reinforced the importance of dialogue as India advances toward a competitive, flexible and efficient power market. HPX reiterated its commitment to industry engagement and market mechanisms aligned with the electricity sector.
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