Comparative Analysis of Indian and Nordic Power Markets - A Regulatory Perspective

The structured power market in India is almost 20 years old and yet the volume of the Indian Short Term Power Market stays low. Adding to this, India has one of the highest demand for electricity in the world and Indian power generation capacity has been constantly growing. However, even after being the most populous country in the world, India is still not the biggest power market. The Nordic Power Market is one of the biggest power markets in the world. This paper provides a comparative analysis of the Indian and Nordic Power Markets and makes certain recommendations to be implemented in the Indian Power Market.