TRADING IN INTRA-DAY PRODUCT
Intra-Day market allows participants to trade electricity
for specified hours of the same day. Participants can place bids for each hour
or for a block of hours as required. Power procured through Intra-Day will
allow the market participants to manage contingent spikes in demand and supply
unforeseen on a day-ahead basis. This brings the participants much closer to
the real time market in an organized way without resorting to UI mechanism.
The Salient Features of Intra-Day Product is as
i) Intra-day product would allow the participants to trade
power within the day for delivery starting three hours (six blocks of 15mins)
from the trading.
ii) Intra-Day Auction applies for delivery upto 24 hrs of
iii) Each contract is sub-divided into hourly contracts.(8
time blocks ahead to 24hr basis on 15 min or multiples thereof as prescribed by
iv) 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.
v) Intra-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.
vi) The Intra-day market is traded on a
bilateral basis with financial settlement and clearance taken care by the
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
- Resources are optimally utilized which leads to increase in