What is Day ahead market and real time market?

Question

Accepted Answer

Day ahead market is where electricity is bought and sold a day before delivery. Real time market is where electricity is bought and sold in real time.

Day ahead market is a forward market where electricity is bought and sold a day before delivery
Real time market is a spot market where electricity is bought and sold in real time
Day ahead market allows utilities to plan ahead and manage their resources efficiently
Real time market allows utilities to balance their supply and demand in real time
Both markets are important for ensuring a reliable and efficient electricity grid

What is Day ahead market and real time market?

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