Indian Energy Exchange Ltd. · NSE:IEX
Indian Energy Exchange — Investor Presentation (April 2017)
23 slides from Indian Energy Exchange's investor presentation, April 2017
Slide 1: Electricity Market
Electricity Market April 7 Email: [email protected] Web: www.iexindia.com For Public Use
Slide 2: In this presentation
In this presentation Introduction to Indian Power Market Product Portfolio Trading Mechanism Market Snapshot Participation Volume Price Trade @ IEX
Slide 3: Indian Power Market: Present Status
Indian Power Market: Present Status Long Term Power Purchase Agreements Upto 25 Years 89% OTC Medium Term Licensed traders (61) 3 months- 3years 6% OTC Intraday- 3 months Short-Term Exchanges Intraday - 3 months 1. Intra-day 2. DAM 3% 3. DAC 4. Daily 5. Weekly Balancing Market Unscheduled Interchang
Slide 4: Company Snapshot
Company Snapshot Market Share: 98% Average daily trade: 4500+ MW High Participation: 4200+ 3700+ Industries I 40+ Discoms (all) I 380+ Generators Transparency Liquidity Competition
Slide 5: Increasing Participation
Participation Increasing Participation
Slide 6: IEX Market Segments
IEX Market Segments Delivery-based Contracts Day-Ahead Closed , Double-sided Auction Market 10-12 am bidding Each 15-min block , 0.1 MW min NOC required since June,08 Day-Ahead Contingency – Another window for Day-Ahead. Term-Ahead Market Extended Market: Trading window increased to 1500-2300 Hours
Slide 7: DAM and TAM Trading Timeline
DAM and TAM Trading Timeline Weekly (Wed and Thursday) Open auction
Slide 8: Features of Day Ahead Market
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 areas defined W2 E2 Congestion Management t
Slide 9: DAM trading process
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
Slide 10: Price
Model Price Calculation algorithm Price Tick (Rs.) 0 1 1.1 2 2.1 2.5 3 3.1 4 4.1 5 --- --- ---- 20 20 20 20 20 20 20 20 10 0 0 0 0 0 0 0 Bid Quantum Portfolio A, MW by different Portfolio B, MW 60 60 60 60 50 40 40 40 40 40 20 20 20 20 20 portfolios Portfolio C, MW 40 20 0 0 -40 -60 -80 -81 -120 -12
Slide 11: Bid Matching
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. Equilibr
Slide 12: Congestion Management
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 8000 100 MW RS RS 9000 7000 8500 100 RS 9500 RS 6000 8000 5500 MW S3 B2 50 MW 160 MW Rs 7.5/u Rs 9/u Required S2 Flow 100 MW 100 MW Rs 5.5/u S1 B1 50 MW 50 MW S2 Rs 8/u
Slide 13: Congestion Management
Congestion Management SR WR Deficit Surplus 100 20 MW MW 100 20 MW MW Lowest Buyers getting rejected Highest Seller getting rejected B2 S2 S3 160 MW Allowed 100 MW 50 MW RS 9000 Flow RS 5500 RS 7500 20 MW S1 B1 S2 50 MW 50 MW 20 MW RS 8000 RS 8500 RS 8000 S2 B3 S1 B1 40 MW 30 MW 80 MW 100 MW RS 8500
Slide 14: Treatment of Losses
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.
Slide 15: Treatment of Losses… for buyer
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 Loss Loss X 100 MW 98.5 MW 93.72 MW at (Buyer) at NR 1.5% at State 4.85% Buyer End periphery periphery Max
Slide 16: Treatment of Losses… for seller
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
Slide 17: Key Statistics
Key Statistics ELECTRICITY REC Market Share (FY15-16) 98% 63% State Utilities 29 States I 5 UTs 17 States I 5 UTs Generators 389 899 Industrial 3,816 2,486 Consumers Average Daily >90,000 MWh >1 Crore RECs Volume Highest : 144,649 MWh Highest: 12,87,814 RECs IEX Data as on 31 March, 2017
Slide 18: Participation at IEX
Participation at IEX 0 5 18 6 428 8 103 2 26 1 5 0 455 4 0 0 1 0 14 0 331 10 7 0 514 20 58 10 6 1 0 47 0 1 0 2 31 19 21 25 0 1 483 30 221 12 210 61 Consumer: 3,816 813 16 Generator: 389 22 0
Slide 19: DAM Cleared Volume v/s MCP
Volume DAM Cleared Volume v/s MCP 7.46 8 40 7.16 36.64 36.34 35.84 35.11 35.50 7 35 30 5.32 5.33 6 Price (Rs./kWh) 27.70 27.20 Volume (BU) 26.72 4.74 25 4.23 4.34 4.27 4.3 5 21.92 4.13 3.73 3.46 20 3.58 3.47 4 2.89 2.70 2.68 15 3 1.83 10 2 5 1 2.62 6.17 11.80 13.79 22.35 28.92 28.12 33.96 30.26 - -1
Slide 20: IEX Membership Types
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 /FINANCIN
Slide 21: Financial Requirements
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. 10,00,00
Slide 22: How to Move Ahead…
How to Move Ahead… Be o e Me er or Clie t of a Me er …optio s • 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
Slide 23: Thank You for your attention
Thank You for your attention www.iexindia.com Leader in Market Development– India Power A ards Best Power Exchange in India – Enertia A ards , & – India Power Award 2014 – Power Business View Award 2014 Inc India Inno ati e A ard for Inno ation in Product and Technolog Best Performing Power Exchange
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