Power Exchange India Limited
India's first institutionally promoted Power Exchange that provides innovative and credible solutions to transform the Indian Power Markets. more...
Go Left Go Fast PXIL achieves 63.59% market share in REC segment in month of June 2014 Paardarshika-April 2014 Issue Electrical & Power Review interacts with MD & CEO, PXIL PXIL emerges as market leader in REC segment with 51.8% market share in FY 2013-14 PXIL is marker leader in REC Segment in FY 2013-14 PXIL achieves 52.5% market share in REC segment in month of February 2014 Latest issue of PXIL's in house Newsletter available for reading now Electrical Monitor interacts with Mr. M.G. Raoot, MD & CEO PXIL, January 2014 PXIL is developing new bid features for market participants with its new matching engine PIOUS-22 PowerLine Interacts with Mr. Raoot Go Slow Go Right

HISTORICAL DATA

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Weekly | Fortnightly | Monthly

ENLARGE VIEW

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BID MARGIN CALCULATOR

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  • Bid Quantum (Mwh)
  • Bid Price (Rs/Mwh)
  • Bid Hours (Hours)
  • Bid Margin (Rs)

PXIL got the permission to trade in DAC Market from August 31,2009 (allowed by The Hon'ble Commission) and PXIL started off its operations from September 15, 2009. Under DAC, Members can trade for delivery of electricity for the 24 hours of the next day. Member can bid for each hourly trades or for block of hours as suitable. Some salient features of DAC Market are:

  • 1. Day-Ahead Contingency auction for all the 24 hours, subdivided into hourly contracts.
  • a. Allows sell bids regionwise for the first hour of trade followed by buy bids.
  • b. Buyers would be allowed to see price and the region of the seller but the seller identity will not be revealed. Buyer can can bid for any region that is feasible for him.
  • c. Auction mechanism is used with differential pricing. Highest buy bid is matched with lowest sell bid at the mid-point of the buy and sell price.
  • d. Bids matched are included in the day-ahead schedules.
  • 2. Under this mechanism too, buy traders are settled at or below the quoted price and sell trades are settled at or above the quoted price, ensuring maximum benefits to both buyers and sellers of electricity.
  • 3. There is complete anonymity of the bids between members.
  • 4. There is a Bilateral contract between buyers and sellers.
  • 5. Financial settlement and clearing is done by the exchange.

Though the DAC market appears similar to DAS market there are subtle differences in the functioning of both.Some noticable differences being:

  • 1. DAS market comes under collective transactions as per CTU whereas DAC market comes under the bilateral transactions.
  • 2. DAS market uses Uniform Clearing Price whereas DAC market used Differential Pricing Mechanism.
  • 3. DAS markets precedes the DAC Market so that any trades which are not cleared in the DAS market can be traded in DAC.
  • 4. Scheduling procedure is handled by NLDC in case of DAS market whereas the same is taken care by Nodal RLDC (Buyers region RLDC) in case of DAC
  • 5. Members in DAC market are not aware as to which party they are dealing with whereas in DAC, since it is a Bilateral transaction, Members know who is their counterparty.
  • 6. Congestion in case of DAS is managed by Market Splitting whereas in case of DAC, the trade is curtailed or re-routed as per the instruction of Nodal RLDC or SLDC.

PXIL got the permission to trade in Weekly Market from August 31, 2009 (allowed by The Hon'ble Commission) and PXIL started off its operations from September 15, 2009. Under Weekly Market, Members can trade for delivery of electricity for the whole Delivery Week (as defined by PXIL). Member can bid for each hourly trades or for block of hours as suitable. Some salient features of Weekly Market are:

  • 1. Delivery for whole week.
  • 2. Trading Period would be on a week wise basis starting from Monday and completing on a Sunday. The Trading will be done every Wednesday and Thursday for the next week.
  • 3. Trading Calender would be declared by PXIL through circulars
  • 4. Bidding and matching in Weekly product would bo on the following basis:
  • a. Buyers would be allowed to see price and the region of the Seller but the seller identity will not be revealed. Buyer can bid for any region that is feasible for him.
  • b. Auction mechanism is used with Differential pricing. Highest Buy bid is matched with Lowest Sell bid at the mid-point of the Buy and Sell price.
  • 5. Under this mechanism, buy trades are settled at or below the quoted price and Sell trades are settled at or above the quoted price ensuring maximum benefits to both buyers and sellers of electricity.
  • 6. There is complete anonymity of the bids between members.
  • 7. There is a Bilateral contract between Buyers and Sellers.
  • 8. Financial settlement and clearing is done by the exchange.

Major highlight of this regulation is the substitution in Clause (2) of Regulation 8 of the Principal Regulations. i.e. “.....3. Amendment of Regulation 8 of the Principal Regulations: (1) Clause (2) of Regulation 8 of the Principal Regulations shall be substituted as under.
- “(2) When a State utility or an intra-State entity proposes to participate in trading through power exchange(s), it shall obtain "No Objection" or "Prior Standing Clearance" from the concerned State Load Despatch Centre in such form as may be prescribed in the Detailed Procedure, specifying the aggregate MW up to which the State utility or intra-State entity may submit buy or sell bid(s) in the power exchange(s) taken together. The "No Objection" or "Prior Standing Clearance" issued by the State Load Despatch Centre shall not be exchange specific."

Did u know ?
As per latest CERC (Open Access Inter state transmission) (Second Amendment) Regulations 2013, NOC obtained from SLDCs can be used for transactions on any power exchange.
Corporate and individuals can also buy Renewable Energy Certificates voluntarily which are the cheapest way to support “Green Initiatives”.

REC Trading

Auction Date 30th July 2014
PXIL achieves 63% Market Share
No of Bids Buy Sell Cleared
Non Solar 18,200 40,36,077 18,200
Solar 6135 1,11,577 6135
Next REC Trading on 27th August 2014



Excerpts from Power Watch in discussion with MD & CEO


Market Support Group