Directions by the Commission to the Power Exchanges in accordance with Regulation 27(1) of the Power Market Regulations

The Commission notified the CERC (Power Market) Regulations 2021(henceforth ‘the PMR 2021’) on 15.08.2021 by repealing the Power Market Regulations 2010. Regulation 27 of the PMR 2021 provides that the Power Exchanges that have been granted registration by the Commission prior to the date of coming into force of these regulations shall be required to carry out the Clearing and Settlement in accordance with the Payment and Settlement Systems Act, 2007 (PSS Act, 2007) within a period of one year from the date of coming into force of these regulations(i.