Power Exchange India Limited
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Home » Market » Products » Term Ahead Market » Weekly
 Weekly
 
PXIL got the permission to trade in Weekly Market on 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) which is from Monday to Sunday now. Member can bid for block of hours as suitable or for round the clock trades. Some salient features of Weekly Market are:
  • Delivery for whole week  traded on the preceding Wednesday & Thursday of the week.
  • Trading Calendar would be declared by PXIL through circulars
  • Bidding and matching in Weekly product would be on the following basis:
  1. Allows sell bids and buy bids simultaneously during the session time ( 10:00 to 16:00 HRS ).
  2. Buyers would be allowed to see price and the region of the seller and vice versa but the seller/buyer identity will not be revealed.Buyer can bid for for any region that is feasible.
  3. 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.
  • 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.
  1. There is complete anonymity of the bids between members.
  2. There is a Bilateral contract between Buyers and Sellers.
  3. Financial settlement and clearing is done by the exchange.
For Contract Specification - Refer Annexure IC of the Business Rules for the Physical Market Segment – Click here