N E W S A N D I N F O R M A T I O NIEX Bulletin

DECEMBER'16 ISSUE 12 | VOlUME 3

ISO 9001:2008, 27001:2013, 14001:2004

IEX achieves the distinction of becoming the first power exchange in India to accomplish ISO Certifications: ISO 9001:2008 for Quality Management, ISO 27001:2013 for Information Security Management and ISO 14001:2004 for Environment Management

www.iexindia.com | 01

In thIs Issue...PAGE REGUlATORY NEWS

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01 CERC proposes draft amendments to LTA/MTOA Regulations

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02 CERC proposes draft amendments to POC Regulations

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02 APERC issues order on Cross Subsidy Surcharge (CSS)

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03 MoP Guidelines for Cross Border Trade in Electricity

PAGE MARkET INSIGHTS

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05 Green-Day Ahead Market (G-DAM)

PAGE MARkET NEWS

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07 Power Market Update: November’16

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08 REC Market Update: November’16

PAGE TRADE INFO

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09 Trade Data: November’16

REGUlATORY NEWSCERC proposes draft amendments to lTA/MTOA Regulations

CERC has proposed Draft CERC (Grant of Connectivity, Long-term Access and Medium-term Open Access in inter-State Transmission and related matters) (6th Amendment) Regulations, 2016 on 28.10.2016. Major amendments proposed are as follows:

� Long Term Access (LTA)

− Duration proposed to be reduced from 12 years to a minimum period of 7 years.

� MTOA period

− Has been proposed equal to or exceeding 1 year but not exceeding 5 years instead of ‘from 3 months to 3 years’.

� Development of dedicated transmission line by CTU

− CTU to only develop dedicated transmission line if maximum length does not exceed from 100 kms from switchyard of 500 MW thermal station and 250 MW Hydro and Renewable Energy Station till the nearest pooling substation.

� Firming up of Drawl or Injection by LTA Customers

− PPA for scheduling under LTA with target region to be not less than one year.

− Existing MTOA/STOA shall be curtailed to accommodate scheduling for LTA customers.

− In case LTA customer to target region firms up PPA for a period of less than a year, there shall be no curtailment of existing MTOA/STOA.

� Under utilization of LTA and MTOA

− In case RLDCs observes that the LTA/MTOA customer’s scheduling is consistently (for more than 5 days) lower than the capacity granted by the CTU, RLDC may issue a notice to such customers asking the reasons for such under-utilization.

− The LTA/MTOA customer to furnish the reasons for such under-utilization by the following day.

− The un-utilized transfer capability to then be used for scheduling of MTOA and STOA depending upon the period of such under utilization. However, MTOA/STOA transaction will be curtailed in the event original LTA/MTOA customer seeks to utilize its capacity.

� Start date of MTOA

− MTOA shall not start earlier than 5 months and not later than 2 years from the last day of the month in which application has been made.

More information: www.cercind.gov.in

02 | www.iexindia.com

CERC proposes draft amendments to POC Regulations

CERC has proposed Draft CERC (Sharing of inter-State Transmission Charges & Losses) (5th Amendment) Regulations, 2016 on 28.10.2016. The key amendments proposed are as follows:

� Introduction of Reliability Support Charge (RSC) for Connectivity

− All Designated Inter-State Consumers (DICs) would be liable to pay Reliability Support charge for the Connectivity quantum.

− DICs to raise transmission charges and RSC from drawee upon entering into PPA.

− RSC paid by a DIC under STOA to be off-set against the quantum covered under connectivity.

� ISTS charges and losses for wind projects

− No transmission charges and losses for the use of ISTS network shall be attributed to wind projects awarded through competitive bidding and commissioned till 31.3.2019 such projects to be exempted from ISTS charges and losses for a period of 25 years only when projects enter into PPA with Discoms.

� POC Rates of STOA/MTOA

− Due to prevailing market trend where generators may not apply for LTA and continue to evacuate power under STOA/MTOA or it is likely that there are less long term PPAs leading to lack of LTAs thereby inefficient transmission planning.

− Thus it is proposed increase in the rates for MTOA and STOA transactions by DICs who have not obtained LTA.

− MTOA and STOA charges are proposed to increase 1.25 and 1.35 times respectively of normal POC rates specified to enable adequate transmission capacity augmentation takes place.

− LTA customers to target region who are already paying transmission charges and are also applying for STOA based on sale of power to be charged at normal POC rates.

� Offset for MTOA/STOA charges

− If a DIC with LTA to a target region and paying injection charges avails STOA to any region, his STOA quantum will be adjusted in the following month against the quantum of LTA to target region limited to quantum of LTA.

− The Withdrawal PoC charges paid by DIC towards STOA will be offset against the corresponding Withdrawal PoC charges to be paid by the Withdrawal DICs for approved withdrawal limited to difference of approved withdrawal and net withdrawal (load minus own injection).

� Reliability Support Charges (RSC)

− RSCs to be 10% of the Monthly Transmission Charges (in `/MW/Month) for both generators with LTA to target region and withdrawal DIC.

− For Generators whose Connectivity is for quantum more than LTA+MTOA, RSC= [Connectivity quantum – (LTA+MTOA)].

More information: www.cercind.gov.in

CSS (`/kWh) Voltage level HT1(A) – Industrial General category (`/kWh)

HT-1B: Energy IntensiveIndustries (`/kWh)

APEPDCL

11 kV 1.54 1.00

33 kV 1.35 1.05

132 kV 1.29 0.77

APSPDCL

11 kV 1.61 0.95

33 kV 1.36 0.95

132 kV 1.30 0.70

The CSS and AS to be applicable wef 01.04.2016.

More information: www.aperc.gov.in

APERC issues order on Cross Subsidy Surcharge (CSS)

APERC vide its order dated 19.11.2016 determined CSS for FY 16-17 as per formula in the National Tariff Policy, 2016. The CSS charges to be applicable on various categories of open access consumers for the two Discoms as below:

www.iexindia.com | 03

MoP Guidelines for Cross Border Trade in Electricity

On 05.12.2016 MOP issued ‘Guidelines for Cross Border Trade’ in Electricity between India and the neighbouring countries. The summary of the guidelines is as follows:

� Objectives

− Facilitate cross border trade of electricity.

− Promote transparency, consistency and predictability in regulatory approaches across jurisdictions.

− Minimise regulatory risks.

− Promote optimum utilization of available resources by participating countries.

− Reliable grid operation across the borders.

− A dynamic and robust electricity infrastructure for cross border transactions.

� Agreements for trade

− Transactions to be only allowed through bilateral agreements.

� Institutional framework

− MoP to nominate a Designated Authority for facilitating the process of approval and laying down the procedure for cross border transactions.

− CERC to frame regulatory framework in accordance with the guidelines.

� Cooperation with neighbouring countries: Designated Authority to coordinate with the nodal agency of the neighboring country for:

− Facilitating the process of approval and laying down the procedure.

− Planning, monitoring and coordinating the commissioning of cross border transmission lines.

− The grid security, safety and operation.

� The cross border trade of electricity transactions shall be governed by the policies of the respective countries.

� Eligibility

− Participant entities to seek one-time approval from the Designated Authority (DA).

− Import of electricity by Indian entities from generation projects located outside India and owned or funded by GoI or by Indian PSU or by private companies with 51% or more Indian entity (entities) ownership.

− Import of electricity by Indian entities from projects having 100% equity by Indian entity and/or the Government/Government owned or controlled company (ies) of neighbouring country.

− Import of electricity by Indian entities from licensed traders of neighbouring countries having more than 51% Indian entity(ies) ownership, from the sources as indicated above.

− Export of electricity by distribution licensees/PSUs, if surplus capacity is available.

− Any other participating entity to be eligible to participate in cross border trade of electricity after obtaining approval of the DA on case to case basis.

− Any change in the equity pattern of the participating entities after the date of approval shall be duly intimated to DA and fresh approval shall be obtained by the participating entities.

− Any coal based Indian thermal power projects other than PSU shall be eligible for export of electricity to neighbouring countries only if surplus capacity is certified by the DA.

− MoP may also identify the sources from which power can be exported to neighbouring countries.

− The project developer of the neighboring countries participating under cross-border trade shall submit the technical information to the CEA. Also, if required by the DA, the developer shall submit the commercial and financial information to the CEA.

� Tariff

− Transaction to be only through Government to Government negotiations.

− Tariff for import of electricity by Indian entities (including traders, distribution licensees)

04 | www.iexindia.com

from generating stations (directly or through trader) located outside India to be determined, under long term/medium term/short term agreement, through a process of competitive bidding.

− In case of import from hydro projects, the tariff to be determined by the CERC as per its Regulations, if approached by the generator through the Government of the neighbouring country and agreed by the Indian entities, including Public Utilities/Discom(s).

− Tariff for export of electricity to entities of neighbouring countries by Indian entities through long term/medium term/short term agreements may be as mutually agreed or through competitive bidding, subject to payment of the charges as applicable for transmission/wheeling of electricity through the Indian grid.

� Trade through Indian power exchanges

− Any Participating entity, with approval from the DA, after complying with the relevant regulations of CERC, shall be eligible for cross border trade of electricity through Indian Power Exchanges under the categories of Term Ahead Contracts, Intra Day Contracts/Contingency Contracts as defined in the Power Market Regulations of CERC.

− Provided that other entities shall be eligible to participate in the Indian Power Exchanges through the eligible licensees under the aforesaid Regulations of CERC.

− The quantum of electricity that can be traded in Indian Power Exchanges to be prescribed from time to time by the Designated Authority.

− Cross border trade of electricity can be extended to other categories of contracts based on review by Ministry of Power in consultation with CERC.

� Transmission system, scheduling & accounting

− Transmission systems to be part of the integrated transmission system on the Indian side.

− Transmission interconnections to be planned based on the need for electricity trade in foreseeable future.

− The generator located outside the country may, if required, keeping technical and strategic considerations in view, develop transmission lines to supply electricity to the pooling station at their cost.

− Transmission Access priority for Cross Border trade of electricity is to be determined by CTU as per the CERC regulation on Cross Border Trade of Electricity.

− The transmission charges, scheduling, accounting, deviation settlement involving Indian grid and any other related operational mechanism and matters involving inter connected grids of electricity shall be governed in accordance with the applicable CERC Regulations.

− MoP to notify Indian Nodal agency for each neighbouring country to be responsible for settlement of grid operation related charges as per CERC regulations.

− Indian Generating Stations supplying electricity exclusively to neighbouring countries may be allowed to build independent transmission system for connecting to the neighbouring country transmission system with the approval of the competent authority at the cost inbuilt in the contract agreement signed between Indian entity and the neighbouring countries. Such approval to be under applicable section(s) of the Electricity Act, 2003, subject to complying the technical and safety standards notified under various section of the electricity Act, 2003.

� Dispute resolution

− The disputes within Indian territory shall be settled as per the provisions of Electricity Act, 2003.

− The disputes involving entities of separate countries may be settled through Singapore International Arbitration Centre or as may be mutually agreed by the participating entities.

More information: www.powermin.nic.in

www.iexindia.com | 05

MARkET INSIGHTS

Green-Day Ahead Market (G-DAM)

Why G-DAM?

To give thrust to renewable energy the Government has set a target of 175 GW of installed renewable capacity by the year 2022 comprising mainly of solar capacity of 100 GW and wind capacity of 60 GW wind. This capacity will potentially be installed in states rich in renewable resources. However those states may not able to absorb all generation by themselves. Due to poor financial health of host Discoms of such States, the Discoms are not keen in further contracting RE power at Feed-in-Tariff (FiT). However, RE deficient State discoms are potential buyers for such power. Further, CERC, have issued favorable regulations facilitating inter-State sale of RE power. Therefore, for merchant RE power generators, it will be useful if we are able to provide platform for transactions.

IEX already is operating REC segment to assist obligated entities meet their RPO, however, RPO obligated discoms have preference to buy energy over the green attribute in form of certificate.

In order to facilitate such platform for RE power, IEX filed a Petition before CERC to seek regulator’s consent for introducing Green Day Ahead Market (G-DAM) comprising of solar and non-solar contracts. You can view the petition and give your comments: www.iexindia.com

Introduction to the G-DAM

G-DAM market will function on similar lines as existing Day Ahead Market (DAM) at the Exchange. Considering two types of RPO i.e. Solar and Non-Solar, G-DAM will have Solar and Non-Solar contracts. Buyers in this market will be eligible for RPO compliance.

Matching in G-DAM markets will happen in same manner as DAM and window for accepting bids will open between 08-09.00 A.M. for delivery on next day. After matching and clearance from NLDC, the final transactions will be notified by 11.30 AM. Unsuccessful sellers/buyers will be able to place their bids in DAM and therefore propose to extend DAM period by 2 hours.

Who can participate?

RE sellers who are under the purview of CERC DSM Regulations i.e. who are eligible to settle with buyers on scheduled energy (not actual energy) and deviation settlement of RE generators through purchase of RECs, can participate in G-DAM. The RE sellers situated in State where SERC has adopted same framework (DSM for RE), can also participate in G-DAM:

� RE Seller having merchant green power capacity will be eligible to participate in G-DAM subject to applicable Regulations notified by Appropriate Commission.

� RPO Obligated entities and all the entities which are eligible to procure power through Open Access can participate in G-DAM as buyer.

Green Power

Electricity at DAM MCP +

Tradable RECs

Green electricity at bundled price to meet RPO

Cleared

ClearedDAM1200-1400 hrs

G-DAM0800-0900 hrs

If unsold

06 | www.iexindia.com

G-DAM Contract SpecificationsThe proposed aspects of the contract specifications are highlighted below:

Benefits of G-DAMWith high targets of the government to promote Renewable Energy in the country, the time is ripe to incentivize Generators to schedule the RE generation and provide market based framework to sell the electricity so produced. G-DAM will provide an alternate mechanism to new generators and prices from the market will provide right signals to drive investments in the sector, it will also give comfort to merchant plants to set up without the need for signing up of PPAs.

On the buy side, Obligated Entities will be able to source RE power to meet RPO while also meeting their demand on 15 min basis for the next day and will be required to pay as per schedule.

The key benefits expected from G-DAM are summarized below:

� G-DAM Contracts will enable obligated entities procure renewable power at competitive prices at the power exchanges and help meet RPOs.

� RE generators will get payment based on schedules obviating the need for settlement based on actual injection report.

� By providing more options to sell RE power, new merchant capacity may come up which will inter-alia help to achieve ambitious renewable capacity addition targets of the GoI.

� Since RE Sellers have zero marginal cost, hence in the existing DAM their bid price should be very low and therefore RE Sellers will be in a better position for clearance of their power in DAM.

� RE Generator need not tie up capacity in advance or depend on PPA with the incumbent Discoms.

� Discoms preference of buying green power over REC is addressed.

� High certainty as liquid DAM is available as fallback option if volume not cleared in G-DAM.

� Small participants (OA/CPP) can buy green power to meet their RPO.

� Renewable rich States can sell RE power to Renewable deficit States to meet their RPO and therefore lessening burden on Renewable rich State to absorb all RE power generated within the State.

� RE generators under preferential tariff in States having excess wind/solar power are being curtailed due to Discoms’ inability to pay. Such generators will now be able to sell power in the market.

� Payment to Generators is ensured through Exchange.

� No risk on non-dispatch or payment.

� Payment security and scheduling will promote investment in the RE Sector.

� Enable better scheduling of intermittent generation.

� Contract Classification: Solar and Non-Solar.

� Bidding Mechanism: Double-sided closed bid Auction like DAM.

� Price Discovery Methodology: Uniform market clearing price for all selected buyers/sellers.

� Auction Timing : 08:00 AM to 09:00 AM of previous day (D-1).

� Scheduling: As per procedure of scheduling of Collective transactions. No revision of schedule will be permissible. Payment on schedule not actual generations, deviations to be dealt as per CERC DSM Regulations/SERC regulations.

� Delivery: Next day (T+1) from 0000 Hrs to 2400 Hrs in 96 separate 15 min time blocks.

� Delivery Point: At Regional Periphery.

� Transmission Congestion Management: As per existing practice of market splitting in Electricity Day Ahead Market.

� Risk Management: As per existing practice of Electricity DAM.

� Deviation Settlement Mechanism: As per applicable Regulations notified by Appropriate Commission.

www.iexindia.com | 07

MARkET NEWS

Power Market Update: November’16

Even with the weather variations like winters setting in the North and cyclonic rains affecting the South the Day-Ahead Market at IEX traded 3,401 MUs in November, maintaining its momentum with 113 MUs traded on a daily average basis. The average Market Clearing Price (MCP) was ` 2.32 per unit, 5.7% decline over last month and 13% decline over the same month last year. The average Area Clearing Price (ACP) the price at which settlement takes place, varied from ` 1.94 per unit to ` 3.30 per unit.

The market remained buyer friendly with the average daily purchase bid of 132 MUs and average daily sell bid of 245 MUs. The Open access consumers were key buyers in the market followed by distribution companies.

Due to congestion on the Inter-State Transmission Corridor, 5 MUs were lost on an average daily basis. The Southern import was congested about 58% of the time mainly due to increased demand in the region and limited availability of the corridor. The Northern import was congested 10% of the time during the month.

The average Area Clearing Prices (ACP) across regions in November are as below:

� North-East, East and West: ` 2.25 per unit

� North: ` 2.31 per unit

� South: ` 2.87 per unit

The graphical depiction of average ACP in November is as below:

Participation

1,191 participants traded in the spot market on an average daily basis. The highest participation was on 9 November, 2016 when 1,289 participants traded on the Exchange.

Volumes

The key highlights of the month are as below:

� Total Sell bids: 7,337 MUs

� Total buy bids: 3,959 MUs

� Total Cleared Volume: 3,401 MUs

� Northern and Southern States: Net Buyers

� Western, Eastern & North-Eastern States: Net Sellers

The table below gives average daily buy-sell at regional level for November’16 vis-à-vis October’16:

% of time congestion

57.6% 57.6%

0.0%

10.3% 10%

0% 0%

E�S W�S W�NS1�S2 E�N N3 Import W3 Export0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

Rest of India - ` 2.25/unit South (Avg) - ` 2.87/unitNorth (N1/N2) - ` 2.31/unit Punjab - ` 2.31/unit

Pric

e (`

/kW

h)

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

01-1

1-20

16

02-1

1-20

16

03-1

1-20

16

04-1

1-20

16

05-1

1-20

16

06-1

1-20

16

07-1

1-20

16

08-1

1-20

16

09-1

1-20

16

10-1

1-20

16

11-1

1-20

16

12-1

1-20

16

13-1

1-20

16

14-1

1-20

16

15-1

1-20

16

16-1

1-20

16

17-1

1-20

16

18-1

1-20

16

19-1

1-20

16

20-1

1-20

16

21-1

1-20

16

22-1

1-20

16

23-1

1-20

16

24-1

1-20

16

25-1

1-20

16

26-1

1-20

16

27-1

1-20

16

28-1

1-20

16

29-1

1-20

16

30-1

1-20

16

ACP in October

RoI North (N1/N2) Punjab South

REGIONAVERAGE DAILY BUY (MW) AVERAGE DAILY SELL (MW)

NETNov'16 Oct'16 Change (%) Nov'16 Oct'16 Change (%)

North East 82.34 73.12 13% 261.06 284.20 -8% SELLEast 463.15 565.71 -18% 776.33 927.46 -16% SELLNorth 1546.80 1840.63 -16% 581.58 846.35 -31% BUYWest 1119.60 1168.07 -4% 2476.86 2287.54 8% SELLSouth 1512.32 1203.91 26% 628.38 505.89 24% BUY

08 | www.iexindia.com

Total number of registered participants 3,369

Obligated Entity 2,489

DISCOMs 33

Open Access Consumers 2,285

Captive Consumer 121

Voluntary 18

Eligible Entity (Private Generators) 854

Highest participation in a session (March'16) 1,315

REC MARkET UPDATE: NOVEMBER’16

Solar Buyer Mix

Captive User

Distribution Licensee

Open Access Consumer

Non-Solar Buyer Mix

Captive User

Distribution Licensee

Open Access Consumer

54,567 (36%) 4,092 (16%) 62,753 (42%)

9,181 (47%)

11,730 (37%)

32,635 (22%)

A total of 1.75 lacs RECs were traded in the REC trading session held on 30th November, 2016 at IEX.

The key details of this trading session are as below:

� Non-solar segment: Total Buy bids – 1,50,050 and Total Sell bids – 81,20,951.

All buy bids were cleared at floor price of ` 1,500 per REC.

� Solar segment: Total Buy bids – 25,003 and Total Sell bids – 22,04,844.

All buy bids were cleared at floor price of ` 3,500 per REC.

The purchase this month is mainly on account of obligated captive power and open access consumers. However, a few DISCOMS participated in this trading session.

Since the beginning of this fiscal (April-November), IEX has traded 15.33 lacs RECs, an increase of over 41% over 10.84 lacs RECs traded in the same period of previous fiscal.

Participants

A total of 1,290 participants traded at IEX with 813 participants in non-solar segment and 477 participants in the solar segment.

Overall, a total of 3,369 participants are registered in the REC segment at IEX. Of this, 859 are Eligible Entities (RE Generators) 2,492 are Obligated Entities (DISCOMs, Open Access Consumers & Captive Generators) and 18 are registered as Voluntary Entities.

An overview of participation in the REC Market at IEX as on 30th November, 2016:

www.iexindia.com | 09

TRADE INFO: NOVEMBER’16

MONTHlY PRICE SNAPSHOT

Minimum MCP Maximum MCP Average MCP

` 2.32/kWh` 3.67/kWh` 1.00/kWh

MONTHlY VOlUME SNAPSHOT 1 MU = 1 Million kWh = 1 GWh

Average Daily

Volume

113 MUs

Unconstrained Volume

3,550

4,931

Cleared Volume

3,401

4,724

PurchaseBids

3,959

5,498

Sell Bids

7,337

10,190

Cumulative Cleared

Volume (MU)

27,823 For FY'17

VOLUME

Average Daily (MW)

TotalVolume (MUs)

Area Prices (`/kWh)

Area Average Minimum Maximum

East, North East, West 2.25 0.80 3.30

North 2.31 0.99 4.01

South 2.87 0.80 4.83

10 | www.iexindia.com

TERM AHEAD MARkET SNAPSHOT (November’16)

Total Volume (MWh)

Max Price (`/kWh)

Min Price (`/kWh)Contracts

58,600 4.50 1.10Day-Ahead Contingency

81,758 3.80 2.50Weekly

27,202 4.00 1.80Intraday

38,840 3.80 3.80Daily

RP: Registered Projects

REC MARkET SNAPSHOT

Trade Session on 30th November, 2016

RECPurchase

Bids Sell Bids Cleared (REC) Price (`/REC) Participants

81,20,951 1,5001,50,050 813Non-Solar 1,50,050

25,003 3,500Solar 25,003 22,04,844 477

State-wise RE Capacity (MW)

Tamil Nadu

Karnataka

Chhattisgarh

Maharashtra

Rajasthan

Punjab

Uttar Pradesh

Andhra Pradesh

Himachal Pradesh

Gujarat

Madhya Pradesh

Others

Source wise RE capacity (MW)

Wind

Bio-fuel cogeneration

Biomass

Small Hydro

Solar

Others

RP: 4622 MW2244

751

675

237

712

3

Registered Projects

RP: 4622 MW

1211

1026

582

348

137

434

161

248

49 38104 284

Registered Projects

www.iexindia.com | 11

PARTICIPATION SNAPSHOT (as on 30th November, 2016)

Total Registered Participants

4,209

Open Access Consumers

3,688

Private Generators

379

Highest Participation

1,410 22nd June'13

Volu

me

(MW

h)

Hours

Average Hourly Market Clearing Volume and Price for the month

Hourly MCV (MWh) Hourly MCP (`/kWh)

Pric

e (`

/kW

h)

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

0.00

1000.00

2000.00

3000.00

4000.00

5000.00

6000.00

7000.00

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

Pric

e `/

kWh

Volu

me

MW

h

01-1

1-20

16

02-1

1-20

16

03-1

1-20

16

04-1

1-20

16

05-1

1-20

16

06-1

1-20

16

07-1

1-20

16

08-1

1-20

16

09-1

1-20

16

10-1

1-20

16

11-1

1-20

16

12-1

1-20

16

13-1

1-20

16

14-1

1-20

16

15-1

1-20

16

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1-20

16

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1-20

16

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1-20

16

19-1

1-20

16

20-1

1-20

16

21-1

1-20

16

22-1

1-20

16

23-1

1-20

16

24-1

1-20

16

25-1

1-20

16

26-1

1-20

16

27-1

1-20

16

28-1

1-20

16

29-1

1-20

16

30-1

1-20

16

Cleared Volume (MWh) MCP N1 S1 W3

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50IEX Price and Volume Trend in November 2016

Price for the Month

Pric

e (`

/kW

h) 2.54 2.54 2.55 2.55

3.87 3.87

2.54 2.54 2.67

2.25 2.25 2.31 2.31

2.87 2.87

2.25 2.25 2.32

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

4.50

North-East East North Punjab S1 (AP & KN) S2 (TN & KR) West Chhattisgarh MCP

November, 2015 November, 2016

Disclaimer

The information featured in this bulletin has been compiled from sources deemed reliable and to the best of our knowledge. Whilst every effort has been made to ensure the accuracy of the information, IEX will not be held responsible for any errors or omissions neither will it be liable for damages nor losses suffered, personal or otherwise, due to the information contained in this bulletin.

DEC

201

6

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