PTC India, N-Side sign pact to develop predictive solution for Indian power market

Power trading solution provider PTC India on Tuesday announced its collaboration with Belgium-based N-Side to work on developing a predictive solution for the Indian power market. As part of a long-term strategy to position itself as a technology-enabled solutions provider in the electricity value chain, PTC India is building a portfolio of forecasting tools across various tenors to forecast demand and prices in the electricity markets.

The new solution will be in addition to PTC's in-house Analytics Lab that has been set up to generate proprietary analysis and insights for its internal use as well as for its clients.

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"PTC India Limited, the leading provider of power trading solutions in India, announced entering into an agreement with N-Side, Belgium to work on developing a predictive solution for the Indian power markets," the company said in a statement.

The evolving Indian power market, in which the behaviour of the market participants resulted in heightened volatility, recently has validated the need for market makers to equip themselves with tools and solutions to support their decision making.

Rajib K Mishra, CMD (additional charge), PTC India, said in the statement: "The participation in the markets of the future would require a core competency of data analytics in all aspects involving descriptive, predictive, and prescriptive analytics and PTC is well on its journey to reposition itself as a technology enabled market maker."

PTC India has maintained its leadership position in power trading since inception. The company has also been mandated by the government to trade electricity with Bhutan, Nepal and Bangladesh.