Reformation and market design of power sector in India

After enactment of Electricity Act 2003, the power utility sector in India is changing from monopoly to a competitive industry. The reformation of power utility sector has paved path for the development of a power market in India in the recent years. Now it has become essential to design an appropriate power market applicable to Indian utility sector in this transition phase. The design of the power market should consider the idea of leading market models that has proved successful in different parts of the world, along with localized issues, which are very specific to the country.