Indian Energy Exchange

August 2019

For Public Use

In this presentation

Introduction to Indian Power Market

Product Portfolio

Trading Mechanism

Market snapshot
Participation Volume Price

Trade @ IEX
Installed Capacity of India (Figures in GW)
State Private Central All India
105 164.4 86.5 356 356
344
29.5% 46.2% 24.3% 100% 327
298 69 78
57
268 39
243 32 44 45 45
223 29
43
7 7
200 41 6 7 26
28 26 26
41 6 26
24
39 5 24
132 39 5 23
5 21
8 20
35 201
185 192 197
4 165
15 145
130
112
71

10th Plan 11th Plan FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19

Coal Gas & Diesel Nuclear Hydro RES
Power Supply situation in the Country

Installed Capacity Energy Available

Peak Met
Year (at the end of FY) (Excluding RE Gen.)
( MW )
(MW) (MU)
2011-12 1,99,877 1,16,191 8,57,886
2012-13 2,23,344 1,23,294 9,11,209
2013-14 2,43,029 1,29,815 9,59,829
2014-15 2,67,367 1,41,160 10,30,785
2015-16 2,98,060 1,48,463 10,90,713
2016-17 3,26,848 1,56,934 11,35,332
2017-18 3,44,002 1,64,066 12,01,528
2018-19 3,56,100 1,77,022 12,44,758
• During the last 8 years, capacity has increased at a CAGR of 8.7 % i.e. from 199 GW to
356 GW in FY 19, peak demand met increased at a CAGR of only 5%

Installed capacity has grown at a faster pace compared to demand

Source: CEA 4
Indian Power Market Development trend

Spot trading
OTC on Exchanges
Markets
Multi
Buyer/Seller

Single
buyer/seller

Improved liquidity and Efficiency

 Growing share of Short-term market
FY 2009 FY 2019*

Long Term
PPA for over 25 years through long term 93.86% 88.3%

Short-Term 6.1% 11.7%

Exchanges 0.4% 4.0%

Through traders 3.2% 4.1%

Direct Bilateral 0.5% 1.5%

Unscheduled Interchange 2.1% 2.0%

Source: Percentage as per CERC Report on Short Term Power Market (Till March‘19)
 7

IEX Market Segments

Day-Ahead • Delivery for next day

Market • Price discovery: Closed , Double-sided Auction
since June,08

Intraday Market & Day- • Intraday: For Delivery within the same day
Ahead Contingency • Day Ahead Contingency: Another window for next day
Round the clock since Jul’15 • Gate closure : 3 hours

Term-Ahead Contracts • For delivery up to 11 days

since Sep,09 • Daily Contracts, Weekly Contracts

Renewable Energy • Green Attributes as Certificates

Certificates • Sellers : RE generators not under feed in tariffs
since Feb,11 • Buyers: Obligated entities; 1MWh equivalent to 1 REC

Energy Saving Certificates • 1 Ecert= 1 Mtoe( Metric Tonne Oil Equivalent)

since 27 Sep’17 • Trading Session on every Tuesday of the Week
• Trading time 1300 hrs to 1500 hrs
Auction Continuous
 8

Company Snapshot

97% Market Share 5500+ MW average daily trade

6100+ Participants
4000+ Industries 70+ Commercial 50+ Discoms
400+ Conventional Generators 1500+ RE Participants

Transparency Liquidity

Market Share-FY 19 (DAM+TAM)

Competition
Average Daily Trade- FY19(DAM)
Participation-as on 31 July’19
What benefits does the power exchange provide?

Nation-wide
voluntary access

Delivery Based
E-trading
contracts

No counterparty
Robust Platform
risk
 10

IEX Volume Growth : Strong trend line

60,000
Electricity Volume 52,241
50,000 46,214
Cleared Volume (MU)

40,576
40,000
34,397
29,270 28,363
30,000
22,811
20,000
14,415
12,712
10,000 6,214
2,616
0
FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY18 FY 19

Source: IEX Data (DAM+TAM)

FY 09: from 27 Jun’08-31 Mar’09; Actual Volume of FY 2018-19
 Intra Day
REC

Product Portfolio
Product Segments

Trade for the following day

Day Ahead Market
(DAM) Contracts for every 15 min, closed auction

From 3 Hrs ahead to •Intraday

Term Ahead 11 days in advance •Day Ahead Contingency
•Daily
Market (TAM) 4 types of
contracts •Weekly

Trade green attributes of electricity

Renewable Energy
Certificates (RECs) 1 REC = 1 MWh of green energy
 Contract Characteristics
TERM AHEAD MARKET

Contract Day Ahead Intraday Day Ahead Daily Weekly

Characteristic Market Contracts Contingency Contracts Contracts

0400-2400 Hrs From 2nd day to

Delivery Next day For next day For next week
same day next 8 days

Continuous Continuous Continuous

Auction Type Closed Auction Open Auction
trading trading trading

Block of Hours Block of Hours

Contracts 15 min Hourly Hourly
(Fixed) (Fixed)

All Days; All Days; Wed & Thur, Fri;

Trade Availability All Days All days
1500-2300 1200-1500 1200-1600

Financial Pay-In- D-1; Pay Pay in: T+1 Pay in: T+1 Pay-In- D-1; Pay Pay-In- D-1; Pay
Settlement Out – D+1 Pay out: T+1 Pay out: T+2 Out – D+1 Out – D+1

T = Trade D = Delivery
DAM and TAM Trading Timeline
Trading Mechanism
Features of Day Ahead Market

A closed double-sided anonymous auction for

each 15-min time block for the following day
N1
N3
The intersection between the aggregated sale
and purchase curves defines the market clearing N2 N2
A2

price (MCP)
A1
E1
W1
W3
13 Bid area defined W2
E2

Congestion Management through market splitting S1

and determining Area Clearing Price (ACP)

specific to an area
S3 S2
Bid types: Portfolio Orders or Block Orders S2

Minimum bid=Re.1 for 0.1MWh 13 Bid Areas

Minimum Price & Volume Step = 0.1p * 0.1 MWh
Understanding exchange mechanism

Bidding and
Matching

Risk
Management

Congestion
Management
Treatment
of losses
and charges
DAM trading process

Review corridor
Bidding Matching and funds Result Confirmation Scheduling
availability

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

12:00 pm 1:00 pm 2:00 pm

Bids for MCP Corridor Final ACV Collective Final

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

• Bids for each 15 min • Relational Block Bid

can be entered for any 15 min
• Varying price and • Mother or child bid
quantum pairs • No circular links
• Allow partial execution • No partial execution

Single/Portfolio
Block Bid
Bid
DAM-Single Bid
DAM-Block Bid

Rules for bid linking :

•A bid (bid B) can only be
linked to one other bid (bid A)

•Both bid A and bid B must be

of same type, i.e. sale-sale or
purchase-purchase.

•Bid A and bid B can span any

set of hours independently of
each other

•Bid A and bid B can have any

bid price independently of
each other.
Matching: Model Price Calculation algorithm
(Example for a sample 15-min)
Price Tick 0 1 1.1 2 2.1 2.5 3 3.1 3.5 3.8 4 4.1 5 7 9 12 14 17 19 20
Portfolio A 20 20 20 20 20 20 20 10 7 4 0 0 0 0 0 0 0 0 0 0
Portfolio B 60 60 60 60 50 40 40 40 40 40 40 40 20 20 20 20 20 20 20 20
Portfolio C 70 70 70 70 70 60 50 50 50 50 50 50 50 10 10 10 10 10 10 10

Portfolio D 40 20 0 0 -40 -60 -80 -81 -85 -100 -120 -120 -120 -120 -120 -120 -120 -120 -120 -120
Portfolio E 0 0 0 0 0 -40 -50 -50 -50 -50 -60 -60 -90 -90 -90 -90 -90 -90 -90 -90
Portfolio F 0 0 0 0 0 -20 -20 -20 -20 -20 -20 -30 -40 -40 -40 -40 -40 -40 -40 -40

Total Buy, MW 190 170 150 150 140 120 110 100 97 94 90 90 70 30 30 30 30 30 30 30

Total Sell, MW 0 0 0 0 -40 -120 -150 -151 -155 -170 -200 -210 -250 -250 -250 -250 -250 -250 -250 -250

Net Transaction,
MW 190 170 150 150 100 0 -40 -51 -58 -76 -110 -120 -180 -220 -220 -220 -220 -220 -220 -220

20
Demand (Buy) Supply (Sell)
18
16
14
12
10
8
6
4
MCP: Rs 2.5 2
0
0 50 100 150 200 250 300
MCV: 120 MW
Congestion Management
SR WR

S3
S1
Deficit
50
50
150
30
B2
B3
S2
B1
MW
MW
MW
MW
407500
50 MW
Surplus
S1
B1
S2
S3
80 MW
120
100 MW
RS
RS 8000
100 MW
RS 9000
RS 7000
8500
100
RS 9500
RS 6000
8000
5500
MW

B2 Required
S3 160 MW Flow
Rs 9/u S2
50 MW 100 MW
Rs 7.5/u 100 MW
Rs 5.5/u
B1
S1 50 MW S2
50 MW RS 8.5/u 20 MW
Rs 8/u Rs 8/u
S2 S1 B1
B3
40 MW 80 MW 100 MW
30 MW
Rs 8.5/u Rs 9.5 Rs 6/u
Rs 7/u
Congestion Management
SR WR

Deficit Surplus
100
20 MW
MW 100
20 MW
MW
Lowest Buyers getting rejected
Highest Seller getting rejected
B2
Allowed
160 MW
S3 RS 9000 Flow S2
50 MW 20 MW 100 MW
RS 7500 B1 RS 5500
S1 50 MW S2
50 MW RS 8500 20 MW
RS 8000 RS 8000
S2 S1 B1
B3
40 MW 80 MW 100 MW
30 MW
RS 8500 RS 9500 RS 6000
RS 7000
Better handling of congestion @ IEX

Details of Congestion IEX PXIL

A Unconstrained Cleared Volume#(BUs) 50.13 0.09

B Actual Cleared Volume and hence scheduled (BUs) 50.06 0.08

C Volume of electricity that could have been cleared and 0.07 0.01
hence not scheduled because of congestion (BUs)
(A-B)

D Volume of electricity that could not cleared as % of 0.13% 11%

Unconstrained Cleared Volume

* This power would have been scheduled had there been no congestion.
Term Ahead Market

26
TAM Market Segments

Open Auction Continuous

Continuous Continuous

27
Types of Contracts

• Weekly and Daily

– FBA -- Firm Base – 24 Hrs
– FNT -- Firm Night – 8 Hrs (0-7 & 23-24)
– FDY -- Firm Day – 11Hrs (7-18)
– FPK -- Firm Peak – 5 Hrs (18-23)

• Day Ahead Contingency and Intra-Day

– Hourly (DAC-24 hrs & Intraday-04-24)

Region Specific Contracts

28
Trading of Intra-day Contracts
Trading Hour
Trading Hours:20
(00:30-20:30)
0:30- 1:30- 2:30- 3:30- 4:30- 5:30- 6:30- 7:30- 8:30- 9:30- 10:30- 11:30- 12:30- 13:30- 14:30- 15:30-
1:30 2:30 3:30 4:30 5:30 6:30 7:30 8:30 9:30 10:30 11:30 12:30 13:30 14:30 15:30 16:30

16-:30- 17:30- 18:30- 19:30-

17:30 18:30 19:30 20:30

Delivery
Hours:20
(04-24)

4-5 5-6 6-7 7-8 8-9 9-10 10-11 11-12 12-13 13-14 14-15 15-16 16-17 17-18 18-19 19-20

20-21 21-22 22-23 23-24

Contracts available for delivery on the same day

29
Intra-day & DAC contracts with current
trading system
Trading Date Trading Time Intra-Day contracts Trading Time DAC contracts
17-04-2019 00:30- 01:30 H5 to 24 (of 17-04)
17-04-2019 01:30 – 02:30 H6 to 24 (of 17-04)
17-04-2019 02:30 – 03:30 H7 to 24 (of 17-04)
17-04-2019 03:30 – 04:30 H8 to 24 (of 17-04)
17-04-2019 04:30 – 05:30 H9 to 24 (of 17-04)
17-04-2019 05:30 – 06:30 H10 to 24 (of 17-04)
17-04-2019 06:30 – 07:30 H11 to 24 (of 17-04)
17-04-2019 07:30 – 08:30 H12 to 24 (of 17-04)
17-04-2019 08:30 – 09:30 H13 to 24 (of 17-04)
17-04-2019 09:30 – 10:30 H14 to 24 (of 17-04)
17-04-2019 10 :30- 11:30 H15 to 24 (of 17-04)
17-04-2019 11:30 – 12:30 H16 to 24 (of 17-04)
17-04-2019 12 :30- 13:30 H17 to 24 (of 17-04)
17-04-2019 13 :30- 14:30 H18 to 24 (of 17-04)
17-04-2019 14 :30- 15:30 H19 to 24 (of 17-04) 15:00 to 21:30 (of 17-04) H1 (of 18-04)
17-04-2019 15 :30- 16:30 H20 to 24 (of 17-04) 15:00 to 22:30 (of 17-04) H2 (of 18-04)
17-04-2019 16 :30- 17:30 H21 to 24 (of 17-04) 15:00 to 23:00 (of 17-04) H3 to 24 (of 18-04)
17-04-2019 17 :30- 18:30 H22 to 24 (of 17-04)
17-04-2019 18 :30- 19:30 H23 to 24 (of 17-04)
17-04-2019 19 :30- 20:30 H24 to 24 (of 17-04)
Market Place Functionality (TAM)

31
BID MATCHING

Open/Closed Continuous
Auction Trading

Orders accumulated during

call phase (no matching) Price-time priority based
continuous matching

Orders matched after call

period The highest Buy order &
lowest Sell order gets the
Orders are used for priority
calculation common price
i.e. Equilibrium Price.
If the prices are same then
All successful orders priority is given to the time
matched at Equilibrium of the order received.
Price.
The Sellers
UNIFORM
Selected AUCTION
Buyers : S1,S2,S3,S4
B1,B2,B3,B4
The:RsBuyers
Trade
MCP Matched
8000/MWh Volume:
Sellers 125 MW (partial)
10 MW @ Rs
6,000
50 MW @ Rs 50 MW @ Rs
50 MW @ Rs 40 MW @ Rs 50 MW @ Rs
9,000 10,000
5,500 7,000 8,000
S5 S6
S4
S3
S1 S2

B1
B2
B3 B4
B5
40 MW @ Rs
25 25 B6 B7
MW MW
9,000 50 MW @ Rs @ Rs @ Rs 50 MW @ Rs
8,000 8,000
50 MW @ Rs
7,000 6,000
10 MW @ Rs 5,500
10,000

125
 TWS Screen
CONTINUOUS
Pending Buy Order TRADING PROCESS
Pending Sell Order
Buy 10 MW @ Rs 4500/MWh Sell 15 MW @ RS 5500/MWh

Trading Engine
Buy 10 MW @ RS 4500/MWh Sell 15 MW @ RS 5500/MWh

Buy 10 MW @ Rs 4500/MWh Sell 15 MW @ Rs 5500/MWh

 TWS Screen
Pending Buy Order Pending Sell Order
Buy
Buy1010MW
MW@ RS
@5000/MWh
4500 Sell 15 MW @ Rs 5500/MWh

Buy 10 MW @ RS 4500/MWh

Trading Engine
Buy 10 MW @ RS 5000/MWh

Buy 10 MW @ 5000/MWh
 TWS Screen
Pending Buy Order Pending Sell Order
Buy
Buy1010MW
MW@ RS
@4500/MWH
5000 Sell
Sell515
MWMW
@ Rs@
5000/MWh
5500
Buy 10 MW @ 4500

Trading Engine
Sell 15 MW @ Rs 5000/MWh

Trade 10 MW @ RS 5000/MWh
Bid Modified

Sell
Sell1515
MWMWh
@ RS 5000/MWh
@ 5500
Risk Management in DAM/TAM
Proprietary/Trading Licensee Professional Members
Members
Initial Margin Basis/Additional Initial Margin Basis/Additional
Margin Margin
Day-Ahead Margin equal to Last 7 Days Average of As per Bank Balance including Hair Cut
Market Buy turnover Factor
TAM-Intraday 105% of order - 105% of order Value -

TAM-DAC 100% of order - 100% of order Value -

Value
TAM-Daily 5% of order Value 50% of Trade 5% of order Value 50% of Trade Value
Value
TAM-Weekly 5% of order Value 50% of Trade 5% of order Value 50% of Trade Value
Value
REC 100% of order - 100% of order Value -
Value
Member Client Credit facility can be provided by No credit or funding facility by Professional
RMS Trader Member to their clients Members to their clients
Timelines for payment of Charges: DAM/TAM

• Application Fees is paid in advance = T

• NLDC Scheduling & Operational Charges is paid on T+1
NLDC • Transmission Charges CTU is paid on T+1
Charges

• SLDC Scheduling & Operational Charges is paid on T+1

• Transmission Charges STU is paid on T+1
SLDC • Area Transmission Charges (ATU) is paid on T+1
Charges • Area Load Dispatch Centre (ALDC) is paid on T+1

• Application Fees/PoC/SLDC/RLDC charges is paid on Within 3 working days of

Acceptance
RLDC
Charges

T = Trade Date
Treatment of Losses
• Both Buyers and Sellers to absorb losses

Draw less than

Buyer contracted power
(Contracted
Power – losses)

Inject more than

contracted power Seller
(Contracted
Power + Losses)

• Average Transmission Losses of the Region where the Entity is

geographically located.
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

Scheduled Drawal
Bid Volume <= SLDC Clearance

POC State X
100 MW 98.5 MW
Loss at State
Loss 93.72 MW at (Buyer)
at NR Buyer End
periphery
periphery 1.5% 4.85%

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

Treatment of Losses… for seller

• POC Loss: 1.5%

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

Scheduled Generation
Bid Volume <= SLDC Clearance

POC State
101.52MW 106.69MW
Y
100 MW at Loss at state Loss Injected by (Seller)
regional
periphery
periphery seller
1.5% 4.85%

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

 Market Snapshot
Participation Volume Prices
Key statistics: Electricity & REC Market
ELECTRICITY REC
Market Share
(FY18-19) 97.5% 71%

State
Utilities
29 States I 5 UTs 28 States I 5 UTs

Generators 487 1090

Industrial 4073 3160

Consumers

Average Daily >139,704 MWh >3 Crore RECs

Volume Highest : 306 ,278 MWh Highest: 32,39,142 RECs

IEX Data as on 4 Sept, 2019

 Participation
Increasing Participation

Members+Clients Open access consumers

5000 4629 4654 4690 4638 4676

4543 4603
4402 4450 4497
4500 4322
4199
4096
3835 3932
4000 3722
Number of Participants

3621 4120
3276 3398 3455 3534
3937 3967 4006 4020 4027 4058 4089
3858 3904
3500 3792
3598 3688
2871 3478
3389
3000 3278
3098 3179
2959 3024
2500

2000

1500

1000

500

0
Aug-14 Dec-14 Apr-15 Aug-15 Dec-15 Apr-16 Aug-16 Dec-16 Apr-17 Aug-17 Dec-17 Apr-18 Aug-18 Dec-18 Apr-19 Aug-19
Participation at IEX
0 6

26 8

430 7 123 2
35 1
5 0
476 4
0 1 0 3
1 0 14 0
343 10

7 0
537 21
58 18 0 1

48 0 3
0

25 27 37 20

0 1 489 32

224 12
249 63
Consumer: 4036
824 20 Generator: 481

32 0
 Open Access Status across Indian States
Northern Region East & North Eastern Region
States Generator Consumer
States Generator Consumer
Haryana ✓ ✓ Assam ✓ ✓
Punjab ✓ ✓ Bihar  ✓
Rajasthan ✓ ✓ Manipur/Mizo ✓ ✓
HP ✓ ✓ Tripura/Sikkim ✓ ✓
J&K ✓  Jharkhand  
Uttaranchal ✓ ✓ A.P. ✓ ✓
Delhi ✓ ✓ Meghalaya ✓ ✓
UP ✓ ✓ Orissa ✓ ✓
Western Region West Bengal ✓ 
States Generator Consumer
Southern Region

M.P ✓ ✓ States Generator Consumer

DNH & DD  ✓ A.P ✓ ✓
Gujarat ✓ ✓ Karnataka ✓ ✓
Chhattisgarh ✓ ✓ Tamil Nadu  ✓
✓ Allowed  Not Allowed
Maharashtra ✓ ✓ Kerala  ✓
Industrial segments with IEX

Paper Cotton
3% 1%
Others
Cement 9%
4%
Textile
Auto 29%
Components
6%

Chemical
9%

Manufacturer
15%
Metal
24%
 Prices
CERC MMC Report for FY 2018-19

Price & Volume Comparison (FY18-19)

Volume Transacted(BUs) Average Price(Rs/kWh)*

56.00 5
Voume transacted (BUs)

48.00

40.00 4.32 4.24

Price (Rs/kWh)
32.00
4.03
4
24.00

16.00 52.17
47.32
8.00
1.35
0.00 3
Trading Licensees IEX PXIL

Short term transactions

*Average Price of Collective Transactions

IEX monthly Average MCP in DAM

Monthly Avg Price (Rs/kWh)

4.67
5.00
4.49
4.50
3.79
4.00
3.55
Average Price (Rs/Kwh)

3.34 3.589
3.50 3.32

3.00 2.85 3.08

2.61 2.54 3.34
3.23
2.50 3.01 2.32 2.32 2.92 3.13
2.82

2.00 2.30 2.17

1.50

1.00

0.50

0.00

Month
 Price (Rs/kWh)

0.00
1.00
2.00
3.00
4.00
5.00
6.00
2.77
3.24
2.62

2.92
3.21
2.82

2.59
3.06
2.44

2.49
3.36
2.21

3.13
4.41
2.70
AVERAGE (RTC)

4.06
5.25
3.69

4.08
IEX Monthly Prices

5.00
3.77

3.55
4.03
3.38

3.00
3.45
PEAK(18-23)

2.85

Month
3.20
3.61
3.06

3.23
3.67
3.08

4.02
4.70
3.79

3.22
3.62
3.09

3.34
3.92
NON-PEAK (1-17 & 24)

3.14

3.32
4.08
3.06

3.38
4.71
2.94

3.32
4.54
2.91
Quarterly Prices FY 2018-19
IEX Prices in Quarter 1 (Apr-June'18) IEX Prices in Quarter 2 (July-Sep'18)
4.00 6.00
3.50 5.00
3.00 4.00

Rs/kwh
2.50
Rs/kwh

4.76 3.00
2.00 4.13 3.92 4.24 5.30
1.50 2.00 3.82 3.33 3.27
1.00 1.00
0.50 0.00
0.00 RTC(00-24 hrs) Peak Hrs avg(18- Non-Peak avg(1- Night off Peak
RTC(00-24 hrs) Peak Hrs avg(18- Non-Peak avg(1- Night off Peak 23) 17,24 hrs) avg(1-6,24 hrs)
23) 17,24 hrs) avg(1-6,24 hrs)

IEX Prices in Quarter 3 (Oct-Dec'18) IEX Prices in Quarter 4 (Jan'19-Mar'19)

6
6.00
5
5.00
4
4.00
Rs/kw

Rs/kWh

3.00 3
5.15
2.00 4.29 4.00 2 3.64
3.38 3.18 3.03
1.00 1 2.31
0.00 0
RTC(00-24 hrs) Peak Hrs Non-Peak Night off Peak RTC(00-24 hrs) Peak Hrs avg(18- Non-Peak avg(1- Night off Peak
avg(18-23) avg(1-17,24 hrs) avg(1-6,24 hrs) 23) 17,24 hrs) avg(1-6,24 hrs)
Prices for various time block
August 2019

Min Max RTC* Peak* Non Peak* Night*

10.00
(0-24 hr) (18-23 hr) (1-17 & 24 hr) (1-6 & 24 hr)
8.95

8.95

8.95

8.95

8.95

8.95

8.95

8.95

8.95
8.00
Area Price (Rs./KWh)

6.00
4.54

4.54

4.54

4.54

4.54

4.54

4.54

4.54

4.54
4.00
3.32

3.32

3.32

3.32

3.32

3.32

3.32

3.32

3.32
3.25

3.25

3.25

3.25

3.25

3.25

3.25

3.25

3.25
2.91

2.91

2.91

2.91

2.91

2.91

2.91

2.91

2.91
2.00

0.00
East North East North(N1+N2) North(N3) West (W1+W2) West (W3) South(S1) South(S2) South(S3)
 Volume DAM Cleared Volume v/s MCP

Cleared Volume MCP

60000 8
7.31
50,136 7
50000
44,925
6
Cleared Volume (MUs)

39,831
40000 5.19 5

MCP (Rs/kWh)
34,066

30000 3.56 3.54 3.49 28,925 28,141 4

3.86
22,330 2.8
3.51
3.26
3
20000 2.73
2.41
11,801 13,799 2
10000 6,171 1
2,616
0 0
FY 08-09

FY 09-10

FY 10-11

FY 11-12

FY 12-13

FY 13-14

FY 14-15

FY 15-16

FY16-17

FY17-18

FY18-19
IEX Monthly Cleared Volume

6000
Total Monthly Volume (MUs) Total Monthly Volume (MUs)

4917
5000
4675

4100
3982 3974
4000 3772
Cleared Volume (Mus)

3445 3401 3524

3325 3403

2890 2928 2926

3000 2768 2728 2818 2794
2495
2123 2028
2000

1000

Month
IEX Day Ahead Market Price & Volume Trend
August 2019
Daily Price & Volume Trend
12.00 200
MCV Avg Price MIN price MAX price
11.00 185

170
10.00
155
9.00
140
8.00
125
Price (Rs/kWh)

7.00

Volume (MUs)
110

6.00 95

5.00 80

65
4.00
50
3.00
35
2.00
20
1.00 5

0.00 -10
2-Aug-19 9-Aug-19 16-Aug-19 23-Aug-19 30-Aug-19
Day
TAM: Performance so far

Weekly Day-ahead Contingency

3,575,865 MWh 33,48,817 MWh

Total Volume traded

10,508 MUs

Intraday Daily
20,53,118 MWh 15,30,046 MWh
TAM Monthly Snapshot -August’19

Total Volume Max Price Min Price

Contracts (MWh) (Rs./kWh) (Rs./kWh)

Weekly 3,00,553 3.85 3.50

Intraday 97,850 9.00 2.05

Day-Ahead
Contingency 58,150 7.00 2.00

Daily 2,69,520 4.20 3.50

Trade @ IEX
Who Can become Members of IEX ?
Entities eligible for Membership:
▪ Inter-State Generating Stations (ISGS)
▪ Distribution Licensees
▪ State Generating Stations
▪ IPPs
▪ CPPs and IPPs
(with consent from SLDC)
▪ Open Access Customers
(with consent from SLDC)
▪ Electricity Traders / Brokers
IEX Membership Types
Proprietary Professional Electricity
Member Member Traders

Right to trade Trade and clear Trade and clear

and clear on its on behalf of its on behalf of its
own account Clients Clients

Generator-
Distribution
NO CREDIT CREDIT
licensees- IPPs -
CPP- MPPs –O A /FINANCING /FINANCING
consumers

Clients
Grid Connected
Generator, Distribution licensees, IPPs, CPP, MPP, OA
consumers
Trader Client
With valid PPA
Financial Requirements
Membership Category: Proprietary / Professional Member The
financial criteria for payment options available on IEX are:
Professional & Proprietary & Proprietary member
Fees Electricity Trader (Light Payment
(Full Payment Option) Option)
Admission fee Rs. 35,00,000 Rs. 10,00,000

Interest Free Security Rs. 25,00,000 Rs. 10,00,000

Deposit
Annual Subscription Rs. 5,00,000 Rs. 2,50,000
Fees
Processing Fees Rs. 10,000 Rs. 10,000

TOTAL Rs. 65,10,000 Rs. 22,60,000

Exchange Transaction 2p/kWh 3p/kWh
How to Move Ahead…
Become Member or Client (of a Member)…options
• 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
Registration

Member Related Activities

SELECTION OF MEMBER 1 week
Exchange Related Activities

METERING (unless already done) 0.5-3

PRE -TRADING

✓ Special Energy Meter Months

SLDC Clearance/NOC
✓ NOC from respective SLDC 1 Month

Registration at IEX 0.15

✓ Client registration for each point of drawal
Month
✓ Unique id created in Exchange system
 Thank You
www.iexindia.com

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