Electricity Market April7 Email: info@iexindia.com Web: - - PowerPoint PPT Presentation

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Electricity Market April7 Email: info@iexindia.com Web: - - PowerPoint PPT Presentation

Oct 20, 2022 156 likes •404 views

Electricity Market April7 Email: info@iexindia.com Web: www.iexindia.com For Public Use In this presentation Introduction to Indian Power Market Product Portfolio Trading Mechanism Market Snapshot Participation Volume Price Trade

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SLIDE 1

Electricity Market

April7

Email: info@iexindia.com Web: www.iexindia.com For Public Use

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SLIDE 2

In this presentation

Introduction to Indian Power Market Product Portfolio Trading Mechanism Market Snapshot Trade @ IEX

Participation Volume Price

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SLIDE 3

Indian Power Market: Present Status

Long Term

Power Purchase Agreements Upto 25 Years

Medium Term

3 months- 3years

OTC

Licensed traders (61)

Short-Term

OTC Intraday- 3 months Exchanges

Balancing Market

Intraday - 3 months Unscheduled Interchange

  • 1. Intra-day
  • 2. DAM
  • 3. DAC
  • 4. Daily
  • 5. Weekly

Real Time

89% 6% 3% 2%

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SLIDE 4

Company Snapshot

  • Market Share: 98%
  • Average daily trade: 4500+ MW
  • High Participation: 4200+

3700+ Industries I 40+ Discoms (all) I 380+ Generators

Competition Liquidity Transparency

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SLIDE 5

Increasing Participation

Participation

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SLIDE 6

IEX Market Segments

Delivery-based Contracts Day-Ahead Market

since June,08 Closed , Double-sided Auction 10-12 am bidding Each 15-min block , 0.1 MW min NOC required Term-Ahead Market since Sep,09 Extended Markets introduced 20th July’15

Day-Ahead Contingency – Another window for Day-Ahead. Extended Market: Trading window increased to 1500-2300 Hours Intra-Day -Extended Market: Trading window increased to 0030 – 2000 Hrs for same day delivery, with delivery starting at 0400 Hours Daily- for rolling seven days (delivery starting after 4 days) Weekly- for 1 week (Monday-Sunday)

Renewable Energy Certificates since Feb,11 Net… Energ Saing Certificates

Green Attributes as Certificates Sellers : RE generators not under feed in tariffs Buyers: Obligated entities 1MWh equivalent to 1 REC

Auction Continuous

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SLIDE 7

DAM and TAM Trading Timeline

Weekly (Wed and Thursday) Open auction

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Features of Day Ahead Market

A closed double-sided anonymous auction for each 15-min time block for the following day The intersection between the aggregated sale and purchase curves defines the market clearing price (MCP) 13 Bid areas defined Congestion Management through market splitting and determining Area Clearing Price (ACP) specific to an area Bid types: Portfolio Orders or Block Orders Minimum bid=Re.1 for 0.1MWh Minimum Price & Volume Step = 0.1p * 0.1 MWh

13 Bid Areas

N1 N2 A2 A1 W3 E2 E1 N3 W2 W1 N2 S2 S1 S3

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SLIDE 9

DAM trading process

Bidding Matching Review corridor and funds availability Result Confirmation Scheduling

Bids for 15- min each or block bids can be placed MCP &MCV calculated Corridor availability and funds verified Collective transaction confirmation by NLDC Final Schedule sent to RLDC for incorporation Final ACV and ACP calculated. Market splitting if congestion

10:00 am to 12:00 pm 12:00 pm to 1:00 pm 1:00 pm to 2:00 pm 3:00 pm 5:30 pm 6:00 pm

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1 1.1 2 2.1 2.5 3 3.1 4 4.1 5

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20 20 20 20 20 20 20 10 60 60 60 60 50 40 40 40 40 40 20 20 20 20 20 40 20

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120 100

80 80 70 60 60 50 40 40 20 20 20 20 20

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120 100 80 80 20

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Price Tick (Rs.)

Portfolio A, MW

Bid Quantum by different portfolios

Total Sell Quantum received, MW Total Buy Quantum received, MW Net Transaction, MW Portfolio B, MW Portfolio C, MW Price

MW Market clearing price (MCP) Market Clearing Volume (MCV)

Supply (Sell) Demand (Buy)

Volume 2.5 60

Model Price Calculation algorithm

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SLIDE 11

BID MATCHING Open/Closed Auction

Orders accumulated during call phase (no matching) Orders matched after call period Orders are used for calculation common price i.e. Equilibrium Price. All successful orders matched at Equilibrium Price.

Continuous Trading

Price-time priority based continuous matching The highest Buy order & lowest Sell order gets the priority If the prices are same then priority is given to the time

  • f the order received.
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SLIDE 12

Congestion Management

SR WR

S1 50 MW RS 8000 B1 50 MW RS 8500 S1 50 MW Rs 8/u B1 50 MW RS 8.5/u B2 150 MW RS 9000 B2 160 MW Rs 9/u S2 40 MW RS 8500 S2 40 MW Rs 8.5/u S3 50 MW RS 7500 S3 50 MW Rs 7.5/u B1 100 MW Rs 6/u S1 80 MW Rs 9.5 B3 30 MW Rs 7/u B3 30 MW RS 7000

Deficit 100 MW

S1 80 MW RS 9500

B1 100 MW RS 6000 S2 120 MW RS 8000

S2 20 MW Rs 8/u

S3 100 MW RS 5500

S2 100 MW Rs 5.5/u

Surplus 100 MW

Required Flow 100 MW

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SLIDE 13

Congestion Management

SR WR

S1 50 MW RS 8000 B1 50 MW RS 8500 B2 160 MW RS 9000 S2 40 MW RS 8500 S3 50 MW RS 7500 B1 100 MW RS 6000 S1 80 MW RS 9500 B3 30 MW RS 7000

Deficit 100 MW

S2 20 MW RS 8000 S2 100 MW RS 5500

Surplus 100 MW

Allowed Flow 20 MW

Surplus 20 MW

Highest Seller getting rejected Lowest Buyers getting rejected

Deficit 20 MW

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SLIDE 14
  • Both Buyers and Sellers to absorb losses
  • Average Transmission Losses of the Region where the Entity is

geographically located.

Treatment of Losses

Draw less than contracted power (Contracted Power – losses) Inject more than contracted power (Contracted Power + Losses)

Buyer Seller

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Treatment of Losses… for buyer

  • POC Loss: 1.5 %
  • S1 (State) loss: 4.85 %
  • Buyer X bids for 100 MW at its respective regional periphery

100 MW

at NR periphery

POC Loss

1.5%

98.5 MW

at State periphery

State Loss

4.85%

93.72 MW at Buyer End

X

(Buyer) Bid Volume Scheduled Drawal <= SLDC Clearance

Maximum Bid= Volume in standing clearance + Regional & State losses

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Treatment of Losses… for seller

  • POC Loss: 1.5%
  • State loss: 4.85%
  • Seller Y bids for 100 MW at its respective regional periphery

POC Loss 1.5% 106.69MW

Injected by seller

State Loss 4.85% Y (Seller)

101.52MW at state periphery

100 MW at regional periphery

Bid Volume Scheduled Generation <= SLDC Clearance

Maximum Bid= Volume in standing clearance – Regional & State losses

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Key Statistics

Market Share

(FY15-16)

State Utilities Generators Industrial Consumers Average Daily Volume

63% 17 States I 5 UTs 899

>1 Crore RECs Highest: 12,87,814 RECs

ELECTRICITY REC 98% 29 States I 5 UTs 389 >90,000 MWh

Highest : 144,649 MWh

2,486 3,816

IEX Data as on 31 March, 2017

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SLIDE 18

18 6 5 331 10 483 30 103 2 514 20 58 10 22 2 47 31 19 1 1 813 16 210 61 6 1 1 21 25 455 4

Consumer: 3,816 Generator: 389

Participation at IEX

428 8 5 14 26

1

7

221 12

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DAM Cleared Volume v/s MCP

Volume

2.62 6.17 11.80 13.79 22.35 28.92 28.12 33.96 30.26

21.92 26.72 27.70 35.84 36.64 35.11 35.50 36.34 27.20 7.16 5.33 3.58 3.47 3.73 2.89 3.46 2.70 1.83 7.46 5.32 4.74 4.23 4.34 4.27 4.3 4.13 2.68

  • 1

1 2 3 4 5 6 7 8

  • 5

10 15 20 25 30 35 40

FY08-09 FY09-10 FY10-11 FY11-12 FY12-13 FY13-14 FY14-15 FY15-16 FY16-17 (Till Dec)

Price (Rs./kWh) Volume (BU)

IEX Volume Trader Volume IEX Price Bilateral Price

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SLIDE 20

IEX Membership Types

Proprietary Member

Right to trade and clear on its

  • wn account

Generator- Distribution licensees- IPPs - CPP- MPPs –O A consumers

Professional Member

Trade and clear

  • n behalf of its

Clients NO CREDIT /FINANCING

Electricity Traders

Trade and clear

  • n behalf of its

Clients CREDIT /FINANCING

Clients

Grid Connected Generator, Distribution licensees, IPPs, CPP, MPP, OA consumers Trader Client With valid PPA

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Financial Requirements

Membership Category: Proprietary / Professional Member The financial criteria for payment options available on IEX are:

Fees Professional & Proprietary & Electricity Trader (Full Payment Option) Proprietary member (Light Payment Option)

Admission fee

  • Rs. 35,00,000
  • Rs. 10,00,000

Interest Free Security Deposit

  • Rs. 25,00,000
  • Rs. 10,00,000

Annual Subscription Fees

  • Rs. 5,00,000
  • Rs. 2,50,000

Processing Fees

  • Rs. 10,000
  • Rs. 10,000

TOTAL

  • Rs. 65,10,000
  • Rs. 22,60,000

Exchange Transaction 2p/kWh 3p/kWh

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SLIDE 22

How to Move Ahead…

Beoe Meer or Cliet of a Meer…optios

  • Rs 22.6 Lacs +3p/kWh transaction fee
  • Rs 65.1 lacs + 2p/kWh transaction fee
  • Client @ 1Lakh

Technical Requirements

  • Standing Clearance from UTs/State SLDC
  • ABT Meters
  • Sufficient transmission capacity

Connectivity with exchange can be done in two ways

  • Internet Immediate
  • Leased Line

Start Buying from IEX or Sell surpluses to IEX

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Best Power Exchange in India – Enertia Aards , & – India Power Award 2014 – Power Business View Award 2014 Inc India Innoatie Aard for Innoation in Product and Technolog Best Performing Power Exchange – Power Line Aards & Leader in Market Development– India Power Aards

Thank You for your attention

www.iexindia.com