TRADING IN ANY-DAY PRODUCT
Power Exchange India Limited (PXIL) provides a common
platform for buying and /or selling of power under Any-Day product. This
product allows participants to trade electricity for single or multiple day(s)
in one or more days in advance upto 11 Days. Multiple day contracts on all or
none basis can be traded. Participants can place bids for block of hours as
specified by the exchange from time to time. The Any-day contract will allow
participants to deal with daily or contiguous day’s requirement. It provides
more flexibility to participants whose energy requirements are not uniform
across the week. For e.g. Election Contract for duration of 3 days and 2 days
can be traded separately for specified time duration within a week.
The Salient Features of Any-Day Product are as under:
i) Any-Day Product caters to meet the requirements of market
by allowing trading of power for 1 day upto 11 Days in advance.
ii) Earliest Delivery Starts from the Day after Trade Date.
iii) Discriminatory pricing mechanism is used as the
matching methodology whereby the exchange ensures that the maximum benefit is
given to both the buyers and sellers of electricity.
iv) Any-Day market operations will be carried out in
accordance with the Procedure for scheduling of Bilateral Transactions’ issued
by the Central Transmission Utility under provisions of ‘CERC (Open Access in
inter-State Transmission) Regulations, 2008.
v) The Any-day market is traded on a bilateral basis with
financial settlement and clearance taken care of by the Exchange.
vi) Full margins taken upfront ensure honoring
of trade. The Margin requirements would be intimated to the Participants
through a Circular by the Exchange from time to time.
Benefits of trading at PXIL
- A neutral and transparent price discovery mechanism
- Search cost for seller as well as buyer is reduced
- Credit risk for sellers and buyers is eliminated
- Standard contracts offer orderly and fair market
- Resources are optimally utilized which leads to increase in