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POWER BULLETIN Volume 62 | July Edition I

Exchange-based Power Trading

Page 1 Exchange-based Power Trading

Page 2 Area-wise Average Power Trading at IEX Average Daily Frequency

Page 3 Short-term, Open Access Trends

Page 4 Storage Status of Important Reservoirs Summary of REC Trading

Page 5 Power Sector News Updates

Page 6 Regulatory Updates Forecasted High Temperatures in CitiesC

ON

TEN

TS

Year-on-year price comparison of power traded on IEX and PXIL (16 - 30 June)

Pric

e (R

s/M

Wh)

1,000

2,000

3,000

4,000

5,000

16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

IEX 2015 IEX 2014 PXIL 2015 PXIL 2014

Year-on-year volume comparison of power traded on IEX (16 - 30 June)

Vol

ume

(MW

h)

60,000

70,000

80,000

90,000

1,00,000

16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

2015 2014

Year-on-year volume comparison of power traded on PXIL (16 - 30 June)

Vol

ume

(MW

h)

200

450

700

950

1,200

16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

2015 2014

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Freq

uenc

y (H

z)

49.70

49.80

49.90

50.00

50.10

50.20

01/09/14 14/10/14 26/11/14 08/01/15 20/02/15 04/04/15 17/05/15 28/06/15

Area-wise Average Power Trading Data from IEX (16 – 30 June 2015)

Region A1Buy volume: 4,829Sell volume: 63,294

Price: 2,073

Region S2Buy volume: 1,01,687

Sell volume: 1,442Price: 2,472

Region S1Buy volume: 1,84,382Sell volume: 1,11,186

Price: 2,472

Region E2Buy volume: 4,308Sell volume: 64,635

Price: 2,073

Region W2Buy volume: 2,62,929Sell volume: 1,22,249

Price: 2,073

Region N2Buy volume: 3,05,446Sell volume: 72,204

Price: 3,480

Region N1Buy volume: 89,347

Sell volume: 3,56,025Price: 3,480Region N3

Buy volume: 34,266Sell volume: —

Price: 3,532 Region A2Buy volume: 4,138Sell volume: 10,230

Price: 2,073

Region W1Buy volume: 31,698

Sell volume: 1,10,944Price: 2,073

Region E1Buy volume: 86,871Sell volume: 60,008

Price: 2,073

Region W3Buy volume: 9,050

Sell volume: 1,46,733Price: 2,073

Average Daily Frequency of Indian Power Grid

Power Bulletin Page 2

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Short Term Open Access

Major Buyers at Exchanges in May 2015 (MUs)

Others 1,222

Andhra Pradesh 190

West Bengal 251

Essar Steel 268

Punjab 366

Rajasthan 616

Major Sellers at Exchanges in May 2015 (MUs)

Others 1,693

Karnataka 116

Jindal Steel & Power 117

Karcham Wangtoo 242

Himachal Pradesh 383

Jindal India Power 478

Power Bulletin Page 3

Approved Bilateral & Collective STOA (million kWh) FY2014-15

Vol

ume

(MU

s)

0

1,625

3,250

4,875

6,500

JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY

Collective Bilateral

Approved Bilateral Short Term Open Access (million kWh)

Month | RLDC AUG ‘14 SEP ‘14 OCT ‘14 NOV ‘14 DEC ‘14 JAN ‘15 FEB ‘15 MAR ‘15 APR ‘15 MAY ‘15

North 3,030 2,654 899 1,328 1,920 2,116 1,611 1,256 532 1,282

West 695 496 822 1,033 1,199 844 598 829 748 555

South 1,061 962 838 753 997 1,174 1,088 1,088 1,574 1,573

East 779 789 657 462 473 475 444 507 1,101 941

North-East

24 34 42 70 82 115 137 146 75 130

TOTAL 5,589 4,935 3,258 3,646 4,671 4,724 3,878 3,826 4,030 4,481

Storage status of important reservoirs (As on 04 June 2015)

Region – No. of reservoirs

Filing position w.r.t. FRL

100% 91-99% 81-90% 71-80% 61-70% 51-60% 41-50% < 40%

North (HP, Punjab, Rajasthan) – 6 – – – 1 – – 1 4

East (Jharkhand, Odisha, Tripura, West Bengal) – 15 – – – – – – 3 12

West (Maharashtra, Gujarat) – 22 – – – 1 – 3 1 22

Central (MP, UP, Uttarakhand, Chhattisgarh) – 12 – – – 1 1 2 – 8

South (Karnataka, TN, AP, Kerala) – 30 – – 1 1 – – – 29

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Summary of REC Trading & MPL share – 24 June 2015

Power Bulletin Page 4

Summary of REC trading on IEX

Vol

ume

0

30,00,000

60,00,000

90,00,000

1,20,00,000

Buy Bids Sell Bids Cleared Participants

29774,599

15,41,650

50,624 1,0221,50,862

96,22,322

1,50,862

IEX MPL

Summary of REC trading on PXIL

Vol

ume

0

15,00,000

30,00,000

45,00,000

60,00,000

Buy Bids Sell Bids Cleared Participants

676,6894,06,558

3,528 34,631

45,72,237

34,361

PXIL MPL

MPL Share 29%

MPL Share 50%

Solar REC Clearing Price: Rs 3,500/MWh Non-solar REC Clearing Price: Rs 1,500/MWh

Solar REC Clearing Price: Rs 3,500/MWh Non-solar REC Clearing Price: Rs 1,500/MWh

MPL Share 19.3%

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BHEL starts NTPC's 800-MW Koldam hydro power plantThe Koldam project is capable of generating approximately 3,054 GWh annually.

'Cheyyur ultra mega power project financially not viable'Power tariff from the 4,000-Mw Cheyyur UMPP, to operate on imported coal, would be Rs 4.90 each unit in the first year of operation (ie in 2021), with a levelised price of Rs 5.95 over the plant's lifetime.

Essar Power Transmission likely to be sold to Adani Group; valued at Rs 1,800 croreEssar Group's debt is close to over Rs 80,000 crore.

Adani Group in talks to buy Avantha Power & Infrastructures in MPAdani Power has so far acquired Avantha's Korba Power (600 MW) and Lanco Infratech's Udupi Power (1,200 MW) projects for a total value of 10,500 crore Delhi discoms to face fines for power outagesRs 50 per hour per consumer for first 2 hours followed by Rs 100 per hour per consumer after 2 hours for each hour of default

UPSERC hikes power tariff by 5.47% across categoriesA hike of 5.04 per cent has been effected in residential connections from 3.74 per kilo watt hour (kWh) to Rs 3.92 per kWh, while no hike has been made for rural domestic consumers.

Govt proposal impractical, say expertsTo penalize discoms, there has to be an investment of at least Rs 5,000 crore to install smart meters.

NTPC to seek board's nod for Damodar Valley Corporation's Raghunathpur plant takeoverThe first phase involves a 1,200 MW (2x600MW) thermal power plant, of which the first unit of 600 MW is ready, but the commercial commissioning is still to happen.

NTPC hopes to get Centre's nod on fuel linkage for KatwaOut of 853 acres of land required for the project, the state government has already handed over 556 acres for the 1,320 MW thermal power plant, while another 97 acres would soon be handed over.

Green panel defers clearance to NTPC's plant in Madhya Pradesh State-owned NTPC plans to construct the 2,640 MW plant at a cost of about Rs 18,000 crore.

Industry fumes over shaky power supplyFacing unscheduled power cuts ranging from 2 to 3 hours

As power losses mount, Centre steps in to push for reformsJ&K faces around 62 percent Aggregate Technical and Commercial losses (ATCL) and 53 percent Transmission and Distribution (T&D) losses both highest in any state.

Power demand touches record 5,846 MW as heat wave sweeps DelhiPeak demand touched 5789 MW in 2014, 5,653 MW in 2013, 5,642 MW in 2012 and 5,028 MW in 2011.

NTPC puts 1,600 MW Gajmara project on back-burnerThe PSU had earlier proposed to invest over Rs 11,000 crore to set up the coal-based project at Gajmara in Odisha.

Coal India Limited to streamline supplies to small unitsLast year, Coal India had earmarked 8 million tonne (mt) of coal for the MSME sector but companies managed to lift only 2mt.

Government mulls new condition for private steel, cement companies to participate in coal auctionWe are considering restricting the companies from bidding for coal more than 100% of their plants' requirement to prevent cornering of the fuel by a few.

Ficci designs model for commercial coal miningCommercial mining and sale of coal is now allowed under the new Coal Mines (Special Provisions) Act, 2015.

PSPCL to import 6 lakh tonnes of coal from South AfricaPSPCL will be importing 6 lakh tonnes of coal worth Rs 500-550 crore from South Africa.

Rajasthan utilities seek debt recastDistribution companies of the Rajasthan State Electricity Board (RSEB), which together have a total debt of Rs 55,000-60,000 crore, are looking to restructure a part of the borrowings while refinancing the rest.

Power Bulletin Page 5

News Updates

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Tem

pera

ture

(ºC

)

25

30

35

40

45

July 2015

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Delhi LudhianaAmritsar Jaipur

Regulatory Updates

Tem

pera

ture

(ºC

)

25

31

38

44

50

July 2015

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Ahmedabad SuratNagpur Mumbai

Tem

pera

ture

(ºC

)

25

30

35

40

45

July 2015

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Coimbatore BangaloreHyderabad Chennai

Tem

pera

ture

(ºC

)

25

30

35

40

45

July 2015

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Raipur BhopalKolkata Kanpur

Source: AccuWeather

Power Bulletin Page 6

Karnataka proposes changes to open access regime

The Karnataka Electricity Regulatory Commission (KERC) recently issued notification for proposed amendments to the the open access regulations in the state.

The proposed amendments seek to change some fundamental aspects of open access regime in Karnataka.

The KERC has proposed to make State Load Dispatch Cen t re ( SLDC) a s the noda l agency fo r implementation of open access in the state. At present, the distribution companies or the transmission companies are the nodal agencies and decide whether to grant open access to an applicant.

As per the proposed arrangement, SLDC will have the deciding power on open access applications while the distribution and transmission companies would be required to implement open access within the specified timeframe.

The KERC has also issued a detailed process for entities to execute day-ahead bilateral open access transactions.

Open access users would be required to pay monthly transaction fees to the SLDC instead of distribution and transmission companies.

The changes, if approved and implemented, are likely to significantly increase the open access transactions in Karnataka. Additionally, with SLDC being proposed as the new nodal agency, more open access applications are expected to be granted quickly.

Forecasted High Temperatures for Major Cities (01-15 July 2015)

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Disclaimer: This newsletter is a service provided by Manikaran Power Limited’s Knowledge Partner (MPL KP) after it selects articles and data from publicly available sources. MPL KP has taken due care and caution in compilation of articles as has been obtained from various sources including which it considers reliable and first hand. However, MPL KP does not guarantee the accuracy, adequacy or completeness of any article and it not responsible for errors or omissions or for the results obtained from the use of such articles and especially states that it has no financial liability whatsoever to the users of this service. Under no circumstances shall any of the information provided herein be construed as a buy or sell recommendation, or investment advice of any kind.

Power Bulletin Page 6