The Central Electricity Regulatory Commission (CERC) has issued the Power Market Regulations, 2021. These regulations will be applicable to power exchanges, market participants other than power exchanges, and the over-the-counter (OTC) market; as well as on the contracts transacted on in the power exchanges, and the delivery-based contracts in the OTC market. As per the regulations, the scheduling and delivery of transactions for day-ahead and real-time contracts shall be in coordination with the National Load Despatch Centre, and in accordance with relevant provisions of the Open Access Regulations and the Grid Code. Price discovery shall be done by the power exchanges or by market coupling operators as and when notified by the commission. Further, the CERC has issued the CERC (Regulation of Power Supply) (First Amendment) Regulations, 2021, and the CERC (Terms and Conditions of Tariff) (Second Amendment) Regulations, 2021.