IEX Bulletin · 2018. 4. 19. · PAGE POWER SECTOR AT A GLANCE BULLETIN LLET IEX IEX LETIN IEX IEX...
Transcript of IEX Bulletin · 2018. 4. 19. · PAGE POWER SECTOR AT A GLANCE BULLETIN LLET IEX IEX LETIN IEX IEX...
N E W S A N D I N F O R M A T I O NIEX Bulletin
APRIL'18 ISSUE 04 | VOLUME 5
ISO 9001:2008, 27001:2013, 14001:2004
www.iexindia.com | 01
In thIs Issue...PAGE REGULATORY NEWS
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01CERC Report Recommends Linking of DSM Rates with DAM Prices on Power Exchanges
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02JERC-Goa and UTs Notifies Connectivity and Open Access Regulations
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04 APERC Issues Tariff Order for FY19
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05 AERC Issues Tariff Order for FY19
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06 BERC Issues Tariff Order for FY19
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07 CSERC Issues Tariff Order for FY19
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08 DERC Issues Tariff Schedule for FY19
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08 GERC Issues Tariff Order for FY19
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09 JERC-UTs Issues Tariff Order for FY19 for DNHPDCL
PAGE MARKET UPDATES
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10 Power Market: March’18
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11 REC Market: March’18
PAGE POWER SECTOR AT A GLANCE
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12 Power Sector at a Glance
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14 IEX Performance Review: Fiscal 2017-18
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16 March'18
REGULATORY NEWSCERC Report Recommends Linking of DSM Rates with DAM Prices on Power ExchangesCERC has issued Volume 2 of Expert Committee Report on “Review of the Principles of Deviation Settlement Mechanism (DSM), Including Linkage with Frequency, In light of Emerging Markets”. The key suggested recommendations of the Report are as under:
� Need for improved forecasting and planning for procurement by the utilities. The quantum of reserves mentioned in the CERC roadmap for reserves dated 13th October 2015 to be implemented.
� More iterations of the electricity market in power exchanges to be implemented so as to provide adequate opportunities to the market participants to balance their portfolio for example, evening market, four/six-hour ahead market in the power exchange.
� Presently, only deviations are being monitored; need to change from monitoring of simple deviations to monitoring of “Area Control Error (ACE)”.
� Need to introduce gate closure concept in the scheduling process so that system operator has the clarity of the quantum of reserve and resources at hand at any given point of time. This will facilitate better optimization of the scheduled dispatches and the real time ancillary dispatch.
� DSM price vector to be linked to the existing market discovered DAM prices. The details of the design aspects associated with market-linked DSM price vector are as follows:
yy Under the present circumstances, price discovered in the DAM can act as a reference for the DSM price vector. In the future, when market based procurement of ancillary services matures and robust discovery of prices takes place, alternatives may be examined.
yy DAM price of the power exchange having a market share of 80% or more in energy terms on a daily basis to be linked to the DSM price. If there is no single power exchange having a market share 80% or more, then, the weighted average DAM price to be used for linking to the DSM price.
yy Daily average (ACP) in the DAM should be used as the basis for market linked DSM price at 50 Hz for the time being and not the time block ACP which could have high volatility.
yy Frequency band for the purposes of the DSM price vector may be taken as 49.85-50.05 Hz to begin with.
yy A time period of 6 months may be given as an advance notice period to the utilities to gear up. At the end of 6-month period, the frequency band for DSM price vector should be changed to 49.90-50.05 Hz so as to align with the IEGC mandated operational frequency band (as amended from time to time).
yy The average daily ACP be used as a reference and linked to the DSM rate at 50 Hz.
yy The DSM rate vector will be dynamic and slope determined by joining the identified price points at 50 Hz. (daily average ACP), low frequency of 49.85 Hz (` 8 per unit) and 50.05 Hz (zero) on a daily basis.
yy For the time being, a reciprocal single DSM rate for both drawl and injection subject to cap rates for applicable generators. CERC may consider introduction of different rates for drawl and injection.
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yy The present methodology of DSM rates for the renewables may be continued.
yy The volume limits along with associated surcharge/additional surcharge to be retained in the new market linked DSM price mechanism for the time being and tightened progressively.
yy The cap rates for applicable generators should be linked to the variable charges for that generator as billed for the previous month.
yy The sign of the deviation to change once every 6 time blocks and an appropriate commercial provision to ensure compliance to be introduced (such as a 20% surcharge for violation). Further, in energy terms, the total deviation from schedule during a day should not be in excess of 3% of the total schedule for the drawee entities and 1% for the generators and additional charge of 20% of the daily base DSM payable/receivable shall be applicable in case of the said violation.
y Comparison of the existing DSM price vector vis-à-vis the proposed DSM price vector (see fig. above).
� Linking of DSM prices to DAM prices may be implemented for 6-months on a pilot basis from 01st April, 2018. Based on the experience gained during this 6-month pilot run, CERC may refine the market linked imbalance pricing mechanism.
More information: www.cerc.gov.in
JERC-Goa and UTs Notifies Connectivity and Open Access Regulations
On 14.03.2018, JERC-Goa and UTs notified “JERC (Connectivity and Open Access in Intra-State Transmission and Distribution) Regulations, 2017”. The key highlights of the Regulations are as follows:
Definitions
Full Open Access Consumer means an open access consumer who maintains zero demand with the distribution licensee in whose area of supply it is located in order to cater to his load requirement.
Partial Open Access Consumer means an open access consumer who maintains some demand with the distribution licensee in whose area of supply it is located in order to cater to his load requirement.
Connectivity yy A consumer having a load of 4 MW and above or a
generating station having a capacity of 4 MW and above shall be eligible to obtain connectivity to the intra-state transmission system.
yy A generating station, including a captive power plant having installed capacity less than 4 MW shall be eligible to obtain connectivity to the distribution system.
Eligibility for Open Accessyy 1 MVA and above. Commission may allow less than
1 MVA.yy The consumers with contract demand (1 MVA and
above) who are not on independent feeders to also be allowed open access subject to the condition that they agree to the system constraints as well as the power cut restrictions imposed on that feeder. yy A consumer to be eligible for short-term open
access over the surplus capacity on the intrastate transmission system/distribution system available after use by the LTOA consumers and the MTOA consumers, by virtue of:1. Inherent design margins.2. Margins available due to variation in power
flows.3. Margins available due to in-built spare
transmission/distribution capacity.
Existing DSM Rate v/s Proposed DSM Rate
DSM
Rat
e (P
aisa
/uni
t)
900.00
800.00
700.00
600.00
500.00
400.00
300.00
200.00
100.00
0.00
Below 49.85 Hz: Proposed rate 800 paisa per unit,additional charge for O/d 100%
800 paise/unit below 49.85
Slope b/w 49.85-50 Hz: 31.25 paise/unit
Proposed Rate @50 HZ: Area Clearing Price say 300 paise/unit (assumed)
Slope b/w 50.0-50.05 Hz: 60 paise/unit
0 paise/unit at 50.05 Hz
Volume Limits (except RE rich states):12% or 150MW whichever is lower12-15% additional charge of 14%15-20 additional charge of 40%>20% additional charge of 100%
49.6
549
.66
49.6
749
.68
49.6
949
.70
49.7
149
.72
49.7
349
.74
49.7
549
.76
49.7
749
.78
49.7
949
.80
49.8
149
.82
49.8
349
.84
49.8
549
.86
49.8
749
.88
49.8
949
.90
49.9
149
.92
49.9
349
.94
49.9
549
.96
49.9
749
.98
49.9
950
.00
50.0
150
.02
50.0
350
.04
50.0
550
.06
50.0
750
.08
50.0
950
.10
Frequency (in Hz)Existing DSM Rate Proposed DSM Rate
IEGC Band: 49.90 - 50.05 HZ
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Procedure for Grant of Open Access Involving Inter-State Transmission System: As per CERC Regulations.
Coordination Committee yy STU to constitute a coordination committee.
yy Coordination committee shall have a nominee each of the distribution licensees, transmission licensees and the SLDC.
yy Coordination committee shall prepare the detailed procedure for connectivity and grant of open access including requisite formats and submit to the commission for approval within sixty (60) days of publication of these regulations.
Consent by STU, SLDC or Distribution Licensee for Inter-State Open Access
yy The respective nodal agency shall convey its consent or otherwise as per the provisions of the CERC regulations or orders in force.yy Provided that in case the applicant is a consumer
of a distribution licensee, that distribution licensee shall convey its consent or rejection within three (2) working days of receipt of the request in case of short-term open access and ten (10) working days, in case of medium-term and long-term open access.
Open Access ChargesTransmission Charge yy Transmission charges to be payable on the basis
of scheduled load in case of STOA. yy 75% charges collected from the STOA
consumers to be adjusted towards reduction in the charges payable by the LTOA and MTOA consumers. The remaining 25% of the charges collected from STOA users to be retained by the respective licensee.
Wheeling Chargeyy Wheeling charges to be paid on the basis of
actual energy drawl at the consumption end.yy Wheeling charges not be applicable in case a
consumer or generating station or licensee is not utilising the distribution network.yy 75% Of charges collected from the short-term
open access consumers shall be adjusted towards reduction in the charges payable by the long-term and medium-term open access consumers. The remaining 25% of the charges collected from short-term open access users shall be retained by the respective licensee.
Scheduling and System Operation Charge: As per CERC for inter-state transactions.
Cross Subsidy Surchargeyy No surcharge shall be levied in respect of open
access power purchase during the period when
full power cut restrictions are imposed by the distribution licensee.
Additional Surcharge: Principles of determination:yy The cost must have been incurred or expected
to be incurred, with reasonable certainty, by the distribution licensee on account of such consumer.yy The cost has not been or cannot be recovered
from such consumer, or from other consumers who have been given supply from the same assets or facilities, through wheeling charges, stand-by charges or other charges approved by the commission.
Components1. Stranded power under long-terms PPAs;2. Stranded physical assets; andyy Payable based on the actual energy drawn
during the month through open access.yy Payable even in case consumer is not utilizing
distribution network.
Standby Power and Standby Charges for Drawl of Power by Full Open Access Consumer from Distribution Licenseeyy Can apply for maximum period of 42 days.yy Standby charges – temporary tariff or fixed
charges for 42 days + 125% of applicable energy charges.yy The OAC would have the option to arrange
standby power from any other source.
Scheduling: The Power Purchase under Short-Term Open Access shall be Subject to the Following
yy STOA consumer to maintain a uniform schedule for a period of at least eight (8) hours.
Imbalance ChargesFull Open Access Consumeryy Under drawl : As per CERC DSM regulationsyy Over drawl: As per CERC DSM regulations or
temporary tariff whichever is higher.
Partial OA Consumeryy The quantum of drawl of electricity by a partial
open access consumer from the distribution licensee during any time block of a day should not exceed the “admissible drawl” of electricity by the open access consumer which is the difference of contract demand and maximum quantum of open access for which approval has been granted by the nodal agency. [Illustration: if an open access consumer with a contract demand of 10 MW has been given an approval for a maximum open access quantum of 6 MW for a period of 3 months, the admissible drawl of electricity from the distribution licensee during any time block shall be 4 MW for any day during a period of 3 months.]
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yy Over drawl:1. Fixed charges on the admissible drawl.2. Energy charges corresponding to admissible drawl.3. Temporary energy charges on any drawl above the “admissible drawl”.4. Additional fixed charges at the rate of 125% of normal fixed charges, for demand above the “admissible
drawl”.yy Under drawl: No compensation.
Under Drawl due to Reasons Attributable to the Transmission/Distribution Licensee i.e. Break Down of System yy Transmission/distribution licensee to pay such intra-state open access consumer the charges payable by him to
the generating company/trader/power exchange or the lowest tariff applicable to the consumer category.
Billing, Collection and DisbursementInter-State Transactions - Short-Term Open Access yy Collection and disbursement of transmission charges for use of the CTU and STU systems and operating charges
to be payable to RLDCs and SLDCs towards short-term open access to be made by the nodal RLDC in accordance with the procedure specified by the central commission.yy STOA consumer connected to the distribution system of a distribution licensee shall pay to such distribution
licensee the charges payable to the distribution licensee within three (3) days from the grant of the short-term open access by the nodal agency.yy In case of collective transactions, the transmission and wheeling charges for the state network and the operating
charges for the SLDC shall be settled directly by the power exchange with the respective SLDC.
The regulations are effective from is 16.03.2018.
More information: www.cerc.gov.in
APERC Issues Tariff Order for FY19
APERC has issued tariff order for FY19-20 for SPDCL and EPDCL. The highlights of tariff order is here under:
Annual Revenue Requirement: Total approved ARR of both the Discoms is 31,982.87 ̀ cr, an increase of 15% (4,218.64 ` cr.) compared to previous fiscal.
Gross Power Purchase: Total power purchase is 60.8 BU, an increase of 8 % (4.25 BU) compared to previous fiscal.
Total Energy Sales: Total energy sales approved is 54.39 BU which implying growth of 9% compared to previous fiscal.
Renewable Purchase Obligation: The commission estimates excess purchase of renewable energy over and above the obligation as appx. 6,500 MU. APERC has stated that after accounting for meeting the back log of RPPO, if any, the licensees shall take action to obtain RECs for the excess energy as per the CERC regulations and to sell the same in the market.
Average Power Purchase Cost: The average power purchase cost is at 4.04 `/kWh implying an increase of 24 paisa/unit with reference to previous fiscal.
Average Cost of Supply (ACoS): The ACoS is at 5.88 `/kWh implying an increase of 34 paisa/unit with reference to previous fiscal.
Average Realization (ABR): ABR is 4.28 `/kWh implying reduction of 14 paisa/unit.
Tariff HT: There is no change in tariff w.r.t FY18. The tariff specified for FY19 is here under:
H-I(A): (i) Industry General Fixed charge (`/kVA/Month) Energy Charge (`/kWh)
FY 2017-18 Normal TOD peak (6 AM to 10 AM & 6 PM to 10 PM)
TOD off peak (10 PM to 6 AM)
11 kV
475
6.33 7.38 5.33
33 kV 5.87 6.92 4.87
132 kV & Above 5.44 6.49 4.44
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Discom FY20 FY20 Increase/Decrease (-ve)SPDCL EPDCL SPDCL EPDCL SPDCL EPDCL
Wheeling Charge (`/kWh)
11 kV 0.39 0.48 0.41 0.33 0.03 -0.15
33 kV 0.02 0.02 0.02 0.02 0.00 0.00
Wheeling Loss 11 kV 8.03% 7.40% 7.98% 7.25% -0.05% -0.15%
33 kV 4.00% 3.39% 4.00% 3.39% 0.00% 0.00%
Transmission Charge (`/kWh)
0.13 0.13 0.00
Transmission Loss 3.98% 3.95% -0.03%
Cross Subsidy Surcharge (`/kWh)
11 kV 1.65 1.72 1.77 1.61 0.12 -0.11
33 kV 1.43 1.57 1.42 1.44 -0.01 -0.13
132 kV & Above 1.35 1.38 1.35 1.41 0 0.03
Additional Surcharge (`/Kwh)
0 0 0 0 0 0
Open Access Charges & Losses:
The tariff order will be effective from 01.04.2018.
More information: www.aperc.gov.in
AERC Issues Tariff Order for FY19 AERC has issued tariff order for FY19 for APDCL applicable from 1st April 2018. The key highlights of the tariff order is here under:
Annual Revenue Requirement: Total approved ARR of the Discom for FY19 is 5,720.62 ` cr, an increase of 2% (136 ` cr.) compared to previous fiscal.
Gross Power Purchase: Total power purchase approved for is 9.84 BU, a reduction of 13% (1.4 BU) compared to previous fiscal.
Total Energy Sales: Total energy sales approved is 7.78 BU implying growth of 3% compared to previous fiscal.
Renewable Purchase Obligation
Average Power Purchase Cost (Including Transmission) : 4.47 `/kWh
Average Cost of Supply (ACoS): 7.35 `/kWh
Average Realization (ABR) (Industries): 8.71 `/kWh
Tariff HT
Solar % 4.00% 5.00%
Non-Solar % 5.00% 6.00%
Total Solar MU 452.252 491.961
Total Non-Solar MU 565.315 590.3532
Solar Energy Purchase MU 245.142 236.161
Non-Solar Energy Purchase MU 408.275 136.9532
Balance Solar (to be procured) MU 207.11 255.80
Balance Non-solar (to be procured) MU 157.04 453.40
Unit FY18 FY19 Increase/ Decrease (-ve)
Option I (Without TOD)
Fixed Charge (`/kVA/Month) All 160 180 13%
Energy Charge ((`/kWh) HT-II 7.5 7.2 -4%
Option II (With TOD)
Fixed Charge (`/kVA/Month) All 290 300 3%
Energy Charge (`/kWh) HT-II 6.65 6.5 -2%
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The tariff order will be effective from 01.04.2018.
More information: www.aerc.nic.in
BERC Issues Tariff Order for FY19
BERC has issued tariff order for FY19 for NBPDCL and SBPDCL. The key highlights of the tariff order is here under:
Annual Revenue Requirement: Total approved ARR of both the Disom for FY19 is 16,248.95 ` cr, an increase of 17% (2,372.79 ` cr.) compared to previous fiscal.
Gross Power Purchase: Total power purchase approved is 29.4 BU, an increase of 10% (2.75 BU) compared to previous year.
Total Energy Sales: Total energy sales approved is 22.1 BU, implying growth of 19% compared to previous fiscal.
Renewable Purchase Obligation
Average Power Purchase Cost (Including Transmission) : 4.45 `/kWh
Average Cost of Supply (ACoS): 7.35 `/kWh
Average Realization (ABR) 7.38 `/kWh
Average Tariff Hike: 5%
Tariff HT
Open Access Charges & Losses
Unit FY18 FY19 Increase/Decrease(-ve)
Wheeling charges
33 kV `/kWh 0.23 0.27 0.04
11 kV `/kWh NA NA
Wheeling Loss
33 kV % 5 5 0
11 kV % 11 11 0
Transmission Charge `/kWh 0.72 0.65 -0.07
Transmission Loss % 3.49 3.44 - 0.05
Cross Subsidy Surcharge All `/kWh 1.33 1.37 0.04
Additional Surcharge `/kWh 0 0 0
Unit FY18 FY19 Increase/Decrease (-ve)
Fixed Charge (`/kVA/Month) All 300 300 0
Energy Charge (`/kWh) HTS-I 6.2 6.65 0.45
HTS-II 6.15 6.6 0.45
HTS-III 6.1 6.55 0.45
HTS-IV 6.05 6.5 0.45
Solar % 3.25%
Non-Solar % 6.00%
Total Solar MU 679.61
Total Non-Solar MU 1254.72
Solar Energy Purchase MU 236.98
Non-Solar Energy Purchase MU 430.63
Balance Solar (to be procured) MU 442.63
Balance Non-Solar (to be procured) MU 824.09
www.iexindia.com | 07
Open Access Charges & Losses
Unit FY17-18 FY18-19 Increase/Decrease(-ve)Wheeling Charges
33 kV `/kWh 0.49 0.27 -0.2211 kV `/kWh 0.55 0.31 -0.24
Wheeling Losses33 kV % 5% 5% 0%11 kV % 6% 6% 0%
Transmission Charge `/kWh 0.32 0.51 0.19Transmission Loss % 3.92% 3.92% 0%Cross Subsidy Surcharge
132 kV `/kWh 1.6 1.71 0.1133 kV `/kWh 1.74 1.85 0.1111 kV `/kWh 1.79 1.87 0.08
HTSS(33 kV & 11 kV) `/kWh 1.58 1.18 -0.4Additional Surcharge `/kWh 0 0 0
The tariff order will be effective from 01.04.2018.
More information: www.berc.co.in
CSERC Issues Tariff Order for FY19The CSERC has issued operative tariff order for FY 2018-19 for CSPDCL to be applicable from 1st April 2018. The commission has notified ARR, tariff open access changes, the highlights of which are as below:
Annual Revenue Requirement: Total approved ARR of the Discom for FY19 is 11,386.14 ` cr, reduction 7% (798 ` cr.) compared to previous fiscal.
Tariff HT: 5-10 paisa decrease in energy charges of HT consumers. No change in demand charges.
FY18 FY19 Increase/Decrease (-ve) Tariff HT Demand
ChargeEnergy Charge
Demand charge
Energy Charge
Demand charge
Energy Charge
`/kVA/Month `/kVAh `/kVA/Month `/kVAh `/kVA/Month `/kVAhHV-3: Other Industrial and General Purpose Non-Industrial
220 kV 375 5.90 375 5.85 0 -0.05132 kV 375 6.00 375 5.95 0 -0.05
33 kV 375 6.35 375 6.3 0 -0.05HV-4: Steel Industries
220 kV 375 5.60 375 5.3 0 -0.30132 kV 375 5.75 375 5.45 0 -0.30
33 kV 375 6.00 375 5.85 0 -0.15
Open Access Charges & Losses
Open Access Charges Unit FY18 FY19 Increase/Decrease (-ve)Wheeling charges (33 kV) `/kWh 0.24 0.25 0.01Wheeling Losses (33 kV) % 6% 6% 0.00Transmission Charge `/kWh 0.239 0.35 0.11Transmission Loss % 3.22% 3.22% 0.00Cross Subsidy Surcharge
220 kV/132 kV `/kWh 1.68 1.23 -0.4533 kV `/kWh 1.26 1.49 0.23
Additional Surcharge `/kWh 0 0 0.00
More information: www.cserc.gov.in
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Fixed charge `/kVA/Month 475Energy Charge
500 kVA to 2500 kVA `/kWh 4.20
Above 2500 kVA `/kWh 4.30
TOD(0700-1100 Hrs.)500 kVA to 2500 kVA `/kWh 5.05
Above 2500 kVA `/kWh 5.15
TOD (2200 Hrs to 0600 Hrs)500 kVA to 2500 kVA `/kWh 3.80
Above 2500 kVA `/kWh 3.90
DERC Issues Tariff Schedule for FY19The DERC has issued tariff schedule for FY 2018-19. The relevant changes in respective tariff categories are here under:
� The fixed charges have been drastically increased and energy charges have been reduced.
� Under TOD, there would be rebate in off peak hours and surcharge in peak hours @ 20% in peak hours.
The new schedule will be effective from 01.04.2018.
More information: www.derc.gov.in
GERC Issues Tariff Order for FY19GERC has issued tariff order for FY 2018-19 for DGVCL, MGVCL, PGVCL and UGVCL. The key highlights of the tariff order are as here under:
Annual Revenue Requirement: Total approved ARR of four Discoms for FY19 is 43,184.46 ` Cr, an increase of 7% (2,638.80 ` Cr.) compared to previous fiscal.
Gross Power Purchase: Total power purchase approved is 91.9 BU, an increase of 5% compared to previous fiscal.
Total Energy Sales: Total energy sales approved is 73.50 BU implying growth of 5% compared to previous fiscal.
Renewable Purchase Obligation
Average Power Purchase Cost: 4.22 `/kWh implying an increase of 5 paisa/unit over previous fiscal.
Average Cost of Supply (ACoS): 5.87 `/kWh implying an increase of 6 paisa/unit over previous fiscal.
Tariff HT: No change in tariff. The tariff applicable for HT consumers is as under:
Solar % 4.25%
Non-Solar % 8.45%
Total Solar MU 3828
Total Non-Solar MU 7610
Solar Energy Purchase MU 2579
Non-Solar Energy Purchase MU 7178
Balance Solar (to be procured) MU 1249
Balance Non-Solar (to be procured) MU 432
Category Unit FY18 FY19 Increase/Decrease (-ve) Non-DomesticFixed Charge `/kVA/Month 130 250 120
Energy Charge `/kVAh 8.4 8 -0.40
IndustrialFixed charge `/kVA/Month 130 250 120
Energy Charge `/kVAh 7.4 7.25 -0.15
www.iexindia.com | 09
Open Access Charges & Losses: Overall there would be an increase of 27 paisa/unit in collective transactions on power exchanges.
The tariff order will be effective from 01.04.2018.
More information: www.gercin.org
JERC-UTs Issues Tariff Order for FY19 for DNhPDCL
JERC-UTs has issued tariff order for DNHPDCL for FY19 for distribution and transmission business. A brief comparison of existing, proposed and approved tariff and open access charges are as hereunder:
Major Changes:
� Tariff (energy charges) hike of 5% is approved on all voltage levels.
� Demand charges have been increased to the tune of 22-25%.
� Nil CSS @ 220 kV was proposed by the licensee but commission approved 14 paisa/kWh.
� Licensee had proposed additional surcharge @ 1.21 `/kWh, however commission gone ahead and approved 50 paisa more than the proposed AS i.e. 1.71 `/kWh. The reason given by the commission – since in new open access regulations 2017 (which is yet to be notified) consumer will pay demand charges only against admissible drawl, therefore commission has charges the methodology for calculation of AS. (Earlier demand charges were subtracted).
More information: www..jercut.gov.in
Unit FY17-18 FY18-19 inr/(-) dec
Wheeling charge `/kWh 0.14 0.15 0.01
Wheeling Losses 10% 10% 0%
Transmission Charge
Bilateral `/kWh 0.13 0.18 0.05
Collective `/kWh 0.3325 0.369 0.037
Cross Subsidy Surcharge `/kWh 1.44 1.47 0.03
Additional Surcharge `/kWh 0.49 0.69 0.20
11 kV 66 kV 220 kV
Char
ge H
ead
UO
M
Exis
ting
(F
Y17-
18)
Prop
osed
by
DN
H fo
r (F
Y18-
19)
App
rove
d by
JE
RC-U
TS
(FY1
8-19
)
Incr
ease
/ D
ecre
ase
%
Exis
ting
(F
Y17-
18)
Prop
osed
by
DN
H fo
r (F
Y18-
19)
App
rove
d by
JE
RC-U
TS
(FY1
8-19
)
Incr
ease
/ D
ecre
ase
%
Exis
ting
(F
Y17-
18)
Prop
osed
by
DN
H fo
r (F
Y18-
19)
App
rove
d by
JE
RC-U
TS
(FY1
8-19
)
Incr
ease
/ D
ecre
ase
%
Demand Charges
`/KVA/mnth
350 350 375 7% 400 400 500 25% 450 450 550 22%
Energy Charges
`/kWh 3.15 4.22 3.3 5% 3.1 4.17 3.25 5% 3.05 4.12 3.2 5%
STU Charges
`/kWh 0.01 0.01 0.01 0 0.01 0.01 0.01 0 0.01 0.01 0.01 0
Addl. Surcharge
`/kWh 0.66 1.21 1.71 61% 0.63 1.21 1.71 171% 0.54 1.21 1.71 217%
Wheeling Charges
`/kWh 0.19 0.13 0.08 -138% 0.19 0.13 0.03 -84% 0.19 0.13 0 -100%
CSS `/kWh 0 0 0 0% 0 0 0 0% 0 0 0.14 100%
10 | www.iexindia.com
MARKET NEWS Power Market Update: March’18The seasonal transition and early onset of summers was evident in the Day Ahead Market on the Exchange. In March 2018, the Day-Ahead Market (DAM) at IEX witnessed a trade of 3,955 MU an increase of about 19% from 3,326 MU traded in February ’18 and about 18% increase over 3,364 MU traded in March’17.
On a daily average basis about 128 MU were traded while the average daily sell and buy bids were 174 MU and 172 MU respectively.
The average Market Clearing Price (MCP) discovered in the day-ahead market at ` 4.02 per unit was 24% more over 3.23 per unit price in February’18 and 57% above ` 2.56 per unit same month last year.
The average MCP during different time-periods of the day was:
� Morning (07:00 to 10:00 Hrs) : ` 4.26 per unit � Day (11:00 to 17:00 Hrs) : ` 3.94 per unit � Evening peak (18:00 to 23:00 Hrs) : ` 4.70 per unit � Night (01-06 Hrs and 24 Hrs) : ` 3.38 per unit
The increase in spot market price was largely on account of aspects such as: increase in demand associated with seasonal variation and inadequate availability of coal with the thermal generators.
More recently the day-ahead market has also been attracting the renewable energy generators and specifically the solar energy generators. In March’18, six (6) solar generators with size varying from 3-100 MW sold 25.4 MUs in the day-ahead market on the exchange.
On daily average basis 762 participants traded in the DAM in March’18.
One Nation, one Price was realized for 27 days in March’18 while it was 24 days in the previous month and the market did not experience any inter-state transmission congestion for 91% during the month.
In fiscal year 2017-18, the DAM traded 44.8 BUs at an average price at ` 3.19 per unit while it traded 39.8 BU in fiscal 2016-17 at average price at ` 2.41 per unit.
The Day-ahead Market registered growth of 12.7% y-o-y basis with the exchange accomplishing 98.4% market share.
Term-Ahead Market (TAM)The Term-Ahead Market traded 138 MU in March’18, mainly in the intra-day and day ahead contingency market segments. The TAM traded 17 MU in February’18 and 66 MU in March’17.
In fiscal 2017-18, the TAM on exchange traded 1,372 MU while it was 744 MU in previous fiscal registering y-o-y growth of 84%.
Renewable Energy Certificate Market (REC)The Renewable Energy Certificate Market which trades on last Wednesday of every month saw the trade of 20.79 lac Non-Solar RECs at the floor price in the trading session held on 28 March 2018.
In fiscal 2017-18, the REC Market traded 93.29 lac RECs while it was 46.19 lac RECs in previous fiscal. The market registered growth of 102 % y-o-y basis with the exchange accomplishing 57% market share.
This commendable achievement was realized only on the strength of trade in Non-Solar RECs which traded at floor price. However in trading session held in March 2018, IEX saw reversal in buy-sell bid pattern after almost six years since 2012. The sell bids were short of buy bids by almost 1.77 lac RECs and going forward the REC Market is expected to see shortage situation on the sell-side.
MCP
MCP for March'17 & March'18
2017 2018
0.00
1.00
2.00
3.00
5.00
6.00
01-0
3-20
18
02-0
3-20
18
03-0
3-20
18
04-0
3-20
18
05-0
3-20
18
07-0
3-20
18
08-0
3-20
18
09-0
3-20
18
10-0
3-20
18
11-0
3-20
18
12-0
3-20
18
13-0
3-20
18
14-0
3-20
18
15-0
3-20
18
16-0
3-20
18
17-0
3-20
18
18-0
3-20
18
20-0
3-20
18
21-0
3-20
18
22-0
3-20
18
23-0
3-20
18
24-0
3-20
18
25-0
3-20
18
26-0
3-20
18
27-0
3-20
18
28-0
3-20
18
29-0
3-20
18
30-0
3-20
18
31-0
3-20
18
06-0
3-20
18
19-0
3-20
18
4.00
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
1.6%
S3Import
% of time congestion
E�S W�S W�NS1�S2 E�N N3Import
W3Export
1.3% 1.3%
0.0% 0.0% 0% 0% 0%
1.0%
www.iexindia.com | 11
Total Number of Registered Participants 3,515
Obligated Entity 2,753
DISCOMs 33
Open Access Consumers 2,567
Captive Consumer 153
Voluntary 21
Eligible Entity (Private Generators) 741
Highest Participation in a Session (March’15) 1,315
Highlights of the REC Trading Session (Non-Solar) Held on 28 March’18Trade Volume 20,79,799
Buy Bid 22,56,422
Sell Bid 20,79,799
No. of Participants 1,062Eligible Entities (Sellers): 575Obligated/Voluntary Entities (Buyers): 487
REC MARKET UPDATE: MARCh’18
8,52,942 (41%)
3,94,316 (19%)
8,32,535(40%)
Captive UserDistribution LicenseeOpen Access Consumer
Non-Solar Buyer Mix
With Govt. of India proactively pursuing obligated entities to fulfil their Renewable Purchase Obligation, the non-solar REC inventory has exhausted significantly. On 1 April 2017, the total Non-Solar inventory was 129 lacs while the closing inventory was only 14.95 lacs RECs on 28 March and going forward the REC Market is expected to see shortage situation on the sell-side.
This fiscal year the Indian Energy Exchange has accomplished record high tra de of 93.29 lac compared to 46.19 lac RECs traded in previous fiscal representing 102% increase year on year basis. This commendable achievement was realized only on the strength of trade in non-solar RECs while the Solar REC trade continued to be under Stay order from the Honourable Supreme Court.
In the trading session held on 28th March 2018, IEX saw trade of 20.78 lac non-solar RECs with reversal in buy-sell bids after almost six years. The sell bids at 20.79 lacs were short by almost 1.77 lac RECs with the buy bids at 22.56 lacs and therefore the volume cleared was 20.70 lacs.
The distribution companies from States such as: Delhi, Maharashtra, Bihar, Union Territories and Goa; the utilities such as DVC, BEST, Tata Power, Torrent as well as open access consumers and captive industries came forward to fulfill their RPO compliance in fiscal year 2017-18.
REC Trading Session (Non-Solar) on 28 March 2018
The 28th March trading session being the last one in fiscal 2017-18 saw an increase of 433% over Feb’18 when 3,90,158 Non-Solar RECs were traded and 263% increase over March’17 when 5,72,357 Non-Solar RECs were traded.
A total of 1,062 participants traded in the 28 March, 2018 trading session. Overall, a total of 3,518 participants are registered in the REC segment at IEX. Of this, 742 are Eligible Entities (RE Generators) 2,755 are Obligated Entities (DISCOMs, Open Access Consumers & Captive Generators) and 21 are registered as Voluntary Entities.
12 | www.iexindia.com
POWER SECTOR AT A GLANCE
Electricity and Economic Growth GDP growth in FY18 is being estimated at 6.6% as per DoEA data and the electricity consumption grew by 5.8% in the same period. Though, GDP was projected to grow at 7.6% based on World Bank projections and electricity consumption by 7.5% as per CEA reports.
Installed Capacity and GenerationAll India total installed capacity as on February 2018 stood at 334,147 MW of which Thermal constituted 66% (219,557 MW), Hydro is 13% (44,963 MW), Nuclear is 2% (6,780 MW) and Renewable is 19% (62,847 MW).
In line with GoI’s initiative to reach 175 GW of renewable capacity in India by 2022,. significant capacity has been added in renewables. Installed RE capacity grew by 26% from 50,018 MW to 62,874 MW since Feb’17 to Feb’18.
Similar growth is observed in terms of electricity generated from renewable sources. The overall electricity generation has increased from 1,122 bus in Apr-Feb’17 to 1,181 BUs in Apr-Feb’18, an increase of 5.2% while renewable generation has grown by 22.6% during the same period.
Transmission Lines (Target & Achievement) 2017-18*Transmission line targets has been over-achieved by 3.5% for the period April’17 to Feb’18. PGCIL and the central sectors lines have met their targets while DVC, state and private lines on an average have under-achieved the targets by 12.4%.
Targets for 765 kV lines and 400 kV lines were over achieved during this FY17-18 (till Feb), while the 220 kV lines remained under-achieved.
Power Supply Position
Regional Power Supply Position
Region: The energy requirement from fiscal 17 to fiscal 18 (till Feb) has grown from 1,044 BUs to 1,108 BU’s an increase of 6% with the highest increase of 9.5% in north-eastern region, followed by an increase of 7.3% in western region, while the southern region has shown the least growth of 3.7% over last year. This growth in energy requirement has mainly been due to government’s initiatives of rural electrification and assuring supply through policy initiatives like ‘Saubhagya’, and focus on industrial development and revival through ‘Make in India’.
Installed Capacity
Thermal
219,
557
44,9
63
6,78
0
62,8
47
215,
215
44,4
13
5,78
0
50,0
18
50,000
0
100,000
150,000
200,000
250,000
Hydro Nuclear Renewable
Total Installed Capacity (MW) Feb'18
Total Installed Capacity (MW) Feb'17
Electricity Generation
Thermal
200,000
0
400,000
600,000
800,000
1,000,000
Hydro Nuclear Renewable
Electricity Generation (MU) Apr'17 - Feb'18
Electricity Generation (MU) Apr'16 - Feb'17
941,
060
119,
138
35,0
75
85,6
56
903,
900
114,
465
34,1
37
69,8
52
Target and Achievement of Transmission Lines during 2017-18
Programme (FY'17-18)* Achievement (FY'17-18)*
2982
9891
6001
3038
12407
4087
765 kV 400 kV 220 kV
Figu
res
in c
Kms
* Till Feb
NEW
www.iexindia.com | 13
State FY16-17* FY17-18* Growth (%)Telangana 47,577 53,723 13%
Uttar Pradesh 98,683 110,775 12%
Madhya Pradesh 60,395 65,226 8%
Orissa 24,409 26,246 8%
Maharashtra 126,521 135,933 7%
All India 1,044,169 1,107,507 6%
State Feb'17 Feb'18 Growth (%)West Bengal 2,762 3,305 20%
Madhya Pradesh 5,482 6,533 19%
Telangana 4,728 5,423 15%
Karnataka 5,713 6,234 9%
Bihar 1,790 1,893 6%
All India 86,723 92,503 7%
Source: All data is sourced and compiled from CEA reports
Energy Requirement April'17 - Feb'18 Energy Requirement April'16 - Feb'17 % Change
343,276 336,522
288,369
124,089
15,251
322,453 314,387
276,808
116,595
13,927
6.46% 7.04% 4.18% 6.43% 9.51%
Northern Region Western Region Southern Region Eastern Region North Eastern Region
Power Supply Position
Figure in MU
Growth in Peak Demand of Key States (MW)
The peak demand in the country has increased from 159,547 MW from Apr-Feb’17 to 164,066 MW for Apr - Feb-’18.
During the period, UP has witnessed significant growth in its peak demand and energy requirement, while the demand grew by 18%, touching over 20,000 MW, the energy requirement increased by 12% in FY18 vis-à-vis FY’17. This is mostly due to the 24 hour power supply promise by the state government. Telangana also witnessed 13% increase in peak demand and energy requirement Y-o-Y. Other States with remarkable growth in their peak demand includes Bihar, Gujarat and Andhra which grew by 16%, 13% and 13% respectively.
While all India energy requirement jumped by 7% in Feb’18 vis-à-vis Feb’17, West Bengal, Madhya Pradesh and Karnataka spotted a growth of 20%, 19%, and 9% in their energy requirement.
Growth in Energy Requirement of Key States (MU)
States FY16-17* FY17-18* Growth %Uttar Pradesh 17,183 20,274 18%
Bihar 3,883 4,521 16%
Telangana 8,948 10,109 13%
Gujarat 14,724 16,590 13%
Andhra Pradesh 7,969 8,967 13%
Total India 159,547 164,066 2.8%
* Till Feb
14 | www.iexindia.com
MARKET INSIGhTS
IEX Performance Review: Fiscal 2017-18With 97% market share in electricity market IEX accomplished several new milestones in fiscal year 2017-18. A few new benchmarks set by the Exchange are as below:
� 182.99 MU- highest volume traded in DAM on 14th September 2017.
� 44,842 MU of electricity traded in DAM, 13% more than the previous fiscal.
� DAM accounted for 34.83% of total volume transacted in the short term market constituted (CERC MMC Report Jan’18)
� 32.39 lac RECs traded in December 2017 trading session - highest ever.
� 13 lacs ESCerts traded in 17 trading sessions commencing from September 26th, 2017.
Day-Ahead Market (DAM)Overall 44,842 MU were traded in DAM in fiscal 2017-18 in comparison to 39,785 MU in the previous fiscal indicating growth of about 13%. The average daily volume was 123 MU - nearly 13% increase over 109 MUs in the previous fiscal. A few key highlights of the Day-Ahead Market in fiscal 2017-18 are as below:
Purchase bids: Bids worth 57,133 MU were received, almost 20% above 47,699 MUs in FY17.
Sell bids: Bids worth 72,956 MU were received, 5% less over 77,141 MU in FY17.
Cleared volume: Final cleared volume was 44,842 MU, 13% more over FY17.
Market Clearing Price (MCP): The average MCP was ` 3.26/unit, about 35% over ` 2.41/unit in FY17.
Area Clearing Prices (ACP): The graph below compares average ACP in FY18 with ACP in FY17.
Participation Trend: Total registered participants increased to 6,238 from 4,349 in the previous fiscal, a rise of more than 43%. Open access consumer base also increased to 3,990, up by 5% from 3,816 in last fiscal. On a daily average basis, 887 participants traded in the DAM.
One Nation One Grid One Price: 264 days
Congestion: Northern and southern states were less affected due to congestion in the inter-state transmission corridors, impacting the price for power in both regions.
yy The East -> South and West -> South corridors were congested for about 8.1% of the time
yy The East -> North and West -> North corridors were congested for about 1.7% of the time
yy Overall, 279 MUs could not be traded in FY’17 due to congestion while in the last fiscal 1,526 MUs were lost.
The graph below depicts % of time congestion experienced across different Inter-state corridors
Graph 1: Average ACP in �scal 18 vs ACP in �scal 17
Pric
e (`
/kW
h)
2017-18
2016-17
0.00
0.50
1.00
1.50
2.00
2.50
3.00
4.50
3.50
4.00
A1 A2 E1 E2 N1 N2 N3 S1 S2 S3 W1 W2 W3 MCP
4.02 4.02 4.02 4.02 4.02 4.02 4.02 4.03 4.03 4.04 4.02 4.02 4.02 4.02
2.46 2.46 2.46 2.46 2.66 2.66 2.66 3.07 3.07 3.07 2.46 2.46 2.46 2.56
www.iexindia.com | 15
Term-Ahead Market (TAM) A total of 1,372 MU was scheduled through TAM, 84% over 744 MUs scheduled in the previous fiscal. The highest volume traded so far in this segment was achieved in November 2017 when close to 317 MUs were traded.
ESCerts MarketWith the Government of India’s aggressive focus on energy efficiency and renewable energy as key to India’s development goals, IEX became the first Power Exchange to commence trading in ESCerts on 26 September 2017. IEX saw a total trade of 12,98,904 ESCerts under PAT Cycle 1 commenced on 26 September 2017 and continued until 16 January 2018. The total buy requirement for PAT Cycle-1 based on the Designated Consumers (DC) was about 14.25 lacs out of which 12.98 lacs ESCerts were traded during the period, representing 90% of the total obligation. The highest trade of 4.49 lacs ESCerts was on December 19th, 2017, which alone amounted to about 35% of the total trade at IEX.
REC MarketThe Market provides a competitive platform to obligated entities like distribution companies, open access, captive consumers to meet their RPO by purchasing green attributes in the form of certificates.
With Govt. of India proactively pursuing obligated entities to fulfil their Renewable Purchase Obligation (RPO) the Non-Solar REC inventory maintained by POSOCO has exhausted significantly. On 1 April 2017, the opening Non-Solar inventory was 129 lacs while the closing inventory on 28 March was only 14.95 lacs RECs. Going forward the REC Market is expected to see shortage situation on the sell-side.
In fiscal 2017-18, the REC Market traded 93.29 lac RECs while it was 46.19 lac RECs in previous fiscal registering registered growth of 102 % y-o-y basis. The highest ever trade was 32.39 in December 2017 trading session. This commendable achievement was realized only on the strength of trade in Non-Solar RECs which traded at floor price while the Solar REC trade continued to be under Stay order from the Honorable Supreme Court.
Participation: A total of 3,515 participants are registered in the REC segment. Of this, 741 are Eligible Entities (RE Generators) 2,753 are Obligated Entities (DISCOMs, Open Access Consumers & Captive Generators) and 21 are registered as Voluntary Entities. Graphs 3 and 4 below represent the number of RECs traded in both Solar and Non-Solar segments at IEX.
Graph 2: % of time congestion in �scal 17 vs % of time congestion in �scal 16
% o
f tim
e co
nges
tion
FY’ 17-18
FY’ 16-17
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
E - S W - S S1 - S2 W - N E - N N3 Import W3 Export S3 import
8.1% 8.1% 0.0% 1.7% 1.7% 0.0% 0.0% 0.3%
44.60% 44.60% 0.40% 32.60% 33% 3% 0% 84%
Non
-Sol
ar T
rade
Cleared Volume (REC)
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
Month
April May June July Aug. Sep. Oct. Nov. Dec. Jan Feb. March
Non-Solar Cleared Volume (FY'18)
Graph 3: Number of Non-Solar RECs traded
16 | www.iexindia.com
TRADE DATA: MARCh’18 – DAY AhEAD MARKET
MONThLY PRICE
Minimum MCP Maximum MCP Average MCP
` 4.02/kWh` 7.32/kWh` 2.00/kWh
VOLUME 1 MU = 1 Million kWh = 1 GWh
Average Daily
Volume
128 MUs
Unconstrained Volume
3,956
5,317
Cleared Volume
3,955
5,316
PurchaseBids
5,338
7,175
Sell Bids
5,394
7,250
VOLUME
Average Daily (MW)
TotalVolume (MUs)
PARTICIPATION
Total Registered Participants
Open Access Consumers
Private Generators
Highest Participation
6,200+ 3,900+ 400+1,410
22nd June'13
www.iexindia.com | 17
Average Hourly Market Clearing Volume and Price
Volu
me
(MW
h)
HoursHourly MCV (MWh) Hourly MCP (`/kWh)
Pric
e (`
/kW
h)
0.001 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
0.00
1.00
2.00
3.00
4.00
5.00
6.00
1000.00
2000.00
3000.00
4000.00
5000.00
6000.00
7000.00
Pric
e `/
kWh
Volu
me
MW
h
Price and Volume Trend
Cleared Volume (MWh) MCP N1 S1 S3
0
20,000
40,000
60,000
80,000
1,00,000
1,60,000
1,80,000
0.00
1.00
2.00
3.00
4.00
5.00
6.00
1,40,000
1,20,000
W3
01-0
3-20
18
02-0
3-20
18
03-0
3-20
18
04-0
3-20
18
05-0
3-20
18
07-0
3-20
18
08-0
3-20
18
09-0
3-20
18
10-0
3-20
18
11-0
3-20
18
12-0
3-20
18
13-0
3-20
18
14-0
3-20
18
15-0
3-20
18
16-0
3-20
18
17-0
3-20
18
18-0
3-20
18
20-0
3-20
18
21-0
3-20
18
22-0
3-20
18
23-0
3-20
18
24-0
3-20
18
25-0
3-20
18
26-0
3-20
18
27-0
3-20
18
28-0
3-20
18
29-0
3-20
18
30-0
3-20
18
31-0
3-20
18
06-0
3-20
18
19-0
3-20
18
Price for the Month
Pric
e (`
/kW
h)
0.00
0.50
1.00
1.50
2.00
2.50
3.00
4.50
2.46 2.462.66 2.66
3.07 3.07 3.07
2.46 2.46 2.56
4.02 4.02 4.02 4.02 4.03 4.03 4.04 4.02 4.02 4.02
3.50
4.00
East North Punjab South (AP & KN) S2 (TN) S3 (KR) West Chhattisgarh MCP
March, 2017 March, 2018
North-East
18 | www.iexindia.com
RP: Registered Projects
2443
507
527
252
7392
State-wise RE capacity (MW)
Tamil Nadu
Karnataka
Chhattisgarh
Maharashtra
Rajasthan
Punjab
Uttar Pradesh
Andhra Pradesh
Himachal Pradesh
Gujarat
Madhya Pradesh
Others
Source-wise RE capacity (MW)
Wind
Bio-fuel cogeneration
Biomass
Small Hydro
Solar
Others
RP: 4,470 MWRP: 4,470 MW
Registered Projects
1164
1006
347
373
127
647
168
26125
2694
232
Registered Projects
TERM AhEAD MARKET - MARCh '18
Total Volume (MWh)
Max Price (`/kWh)
Min Price (`/kWh)Contracts
42,765 6.62 2.75Day-Ahead Contingency
– – –Weekly
37,968 6.74 3.50Intraday
57,456 4.00 4.00Daily
RECPurchase
Bids Sell Bids Cleared (REC) Price (`/REC)
Participants
20,79,799
–
1,500
–
22,56,422
–
1,062
–
Non-Solar
Solar
20,79,799
–
REC MARKET
After two month pause in REC trading (May and June’17), on 20 July 2017, the Honourable Central Electricity Regulatory Commission (CERC) advised IEX to resume trading in only Non-Solar REC Market.
Trade Session on 28th March 2018
www.iexindia.com | 19
GLIMPSES OF EVENTS
IEX partnered Assocham Conference on “Achieving 175 GW Renewables by 2022 -Journey So Far” held on 7th March'18 in New Delhi.Mr. Nitin Sabhiki, AVP- BD represented IEX
IEX & JEPX SIgn MEMoranduM of undErStandIng (Mou) the organizations to jointly explore opportunities of Cooperation in Electricity Market
hIGhLIGhTS
• IndianEnergyExchange(IEX)andJapanElectricPowerExchange(JEPX)signaMoUon28thMarch,2018.
• The two organizations set to cooperate in: technology related information, share experience in productdevelopment, training with regard to development of electricity trading through competitive market platforms and mutually beneficial commercial initiatives.
The Indian Energy Exchange (IEX) and Japan Electric Power Exchange (JEPX) have entered into a Memorandum of Understanding (MoU) on 28th March, 2018 for jointly exploring the opportunities of cooperation in electricity market.
The Intent of the MoU is to share experience and cooperate with each other in respect of technology and in energy market products development. The scope of MoU includes opportunities for training to augment the electricity tradingthroughcompetitivemarketplatformsbyorganizingknowledgesharingprograms.Theseinitiativeswouldhelpboththeorganizationsinelucidatingtheelectricitymarketsandinlearningthelawsandrulespertainingtoelectricity trading in both the countries. This collaboration would be beneficial for both the exchanges and for the larger good of the power markets in India and Japan.
Speaking on the occasion, Mr. SN Goel, Managing Director and CEO, IEX said that “The Power Exchanges in India have high growth potential. As the energy markets in India and Japan both have potential to grow, expand and diversify, I believe this collaboration with JEPX will ultimately benefit overall market development in both countries.”
Speaking on the occasion, MR. Takashi Murakami, Chairman and CEO, JEPX said that “We are very much pleased tohavecloserelationshipwithIEXinordertoshareexperiencesregardingfull liberalizationofelectricpowermarket.”
IEXorganizeda "WorkshoponPowerMarket”heldon13March2018at Patiala.Mr. Rajesh.K. Mediratta, Director-BD addressed the conference.
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