Electricity use is indispensable for the economic growth and sustainable development of any country. Electricity supply is instrumental to economic growth, and its consumption affects all areas of development, including social, economic, and even individual livelihoods. In any case, the test is to deal with the power market. The Indian power market is creating, with restricted admittance to recognize and fates markets, crude trades, and unstructured exchanging instruments (Roy and Basu, 2020). The institution of the Electricity Act 2003 has changed the Indian power market, into a cutthroat, proficient, and straightforward instrument (Ahmad and Alam, 2019), with expanded sustainable joining prerequisites. Because of these progressions in the market structure, power costs have become erratic, and the electrical lattice has become shaky. These progressions uncover the electric utilities, power makers, and brokers to different sorts of dangers, for example, market risk, counterparty credit chance, and liquidity risk (Bunn et al., 2016). Subsequently, power markets should be created by moving concentration from Long-term agreements (25 years) to Short-term or Medium-term contracts (7-8 years) (Kujur, 2017). In Europe, volumes exchanged on momentary business sectors range from 23% to 88 percent in 2015. In India, it represents around 10.48 percent of complete power utilization (just 3.63 percent exchanged over trades) (CERC, 2021).