# Electricity Markets and Grid Regulation

**URL:** https://thecodex.expert/energy/grid/markets/
**Session:** 23 | **Date:** 2026-05-04

## Summary

Electricity market regulation determines dispatch (who runs now) and investment (who gets built). Key regulators: CERC India (28.64N 77.20E, interstate), FERC USA (38.90N 77.04W), Ofgem UK (51.50N 0.12W), ACER EU (46.05N 14.51E, Ljubljana). IEX (Indian Energy Exchange, 28.59N 77.21E, ~104 BU traded FY2023-24): DAM, RTM, GDAM, GTAM products. Merit order: zero-cost renewables dispatched first, suppressing wholesale prices. India DISCOM crisis: ₹75,000 crore aggregate losses 2021-22 due to below-cost tariffs for agriculture, 18% T&D losses, cross-subsidy burden. RDSS scheme (₹3.03 lakh crore). Capacity markets (UK, PJM USA) pay for availability not just energy. Contract for Difference (CfD): UK mechanism guaranteeing revenue for renewables. Sources: CERC Annual Report 2024, FERC 2024, IEX Market Watch 2024.