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S UMMARY of N VVN’S VIEWS & SUGGESTIONS on C ERC STAFF PAPER ON DEVELOPING A COMMON PLATFORM FOR ELECTRICITY TRADING PowerPoint PPT Presentation


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S UMMARY of N VVN’S VIEWS & SUGGESTIONS on C ERC STAFF PAPER ON DEVELOPING A COMMON PLATFORM FOR ELECTRICITY TRADING. National PX v/s Many (Region Level) Exchanges. Assignment of Transmission Capacity to Day-Ahead Trading Through PX. Bids Based On Marginal Costs. Price Mitigation.

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S UMMARY of N VVN’S VIEWS & SUGGESTIONS on C ERC STAFF PAPER ON DEVELOPING A COMMON PLATFORM FOR ELECTRICITY TRADING

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SUMMARYofNVVN’S VIEWS & SUGGESTIONSonCERC STAFF PAPER ON DEVELOPING A COMMON PLATFORM FOR ELECTRICITY TRADING


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National PX v/s Many (Region Level) Exchanges


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Assignment of Transmission Capacity to Day-Ahead Trading Through PX


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Bids Based On Marginal Costs


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Price Mitigation


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Congestion Management


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Treatment of Transmission Charges


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Treatment of transmission losses


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Organization of PX


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Organization of PX (Contd.)


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Market Regulation


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Timing for launching PX


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Developing a Common Platform for Electricity Trading in India


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Mandatory v/s Voluntary Participation in PX


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Double-sided Bidding v/s Only Supply Side Bidding


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Uniform Pricing v/s Discriminatory Clearing Pricing


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Day-Ahead v/s Same Day Exchange


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Time blocks for bidding


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Operational Inflexibilities of Generators


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Time line for PX


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Other benefits of PX


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Settlement & Clearance Mechanism


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DEVELOPMENTOFPOWER EXCHANGE AT NATIONAL LEVEL

NTPC Ltd

NVVN Ltd


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An initiative forSelection of PX Model for India

  • Analysis of Indian Electricity Trading Market

  • Study of International Electricity markets

  • Consultations with MoP, CEA, PGCIL and PTC

  • Development of DPR for PX in India

    Consultants:

    Consortium of M/s NordPool Consulting AS, Norway and M/s CRISIL, India


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Preparatory Work Done

  • A professionally prepared DPR

  • Consultations with other stakeholders during preparation of DPR

    • Core Team

    • Workshop for stakeholders

  • Full implementation plan available

    • Hardware & software issues

    • Procurement, Training & Implementation

    • Model Agreements

    • Business Case


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Our Proposal

  • Power Exchange may be promoted as a separate company by key players in power sectors and gradually provided with more diversified ownership and governance structure. CERC Staff Paper on PX also recommends a diversified ownership. It is common to find examples of PX promoted by the stakeholders in European Markets.

  • Development of Power Exchange for physical delivery market is complex due to nature of electricity. Therefore, the design of the product, trade system and operational procedures require a thorough understanding of generation, transmission, consumption and trading of electricity as well as system operation.


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Our Proposal

  • The focus of PX is market development. In India, the trading market is small and limited to tradable short-term surplus. Therefore support and participation by market players is crucial for market development.

  • CPSUs under the MoP are respective market leaders, possess significant domain knowledge, technical & managerial expertise and financial strength. They also have an experienced pool of necessary manpower to support the creation and operation of PX. Further, the Government Companies playing a leading role in the development of PX shall provide significant comfort to the market participants with regard to neutrality and transparency.


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Our Proposal

  • Accordingly, the following may be considered for establishing the Power Exchange:

  • Power Exchange shall be promoted as a separate company under the Companies Act with CPSUs under MoP as the initial promoters, who shall contribute Initial 50% of the authorized capital in equal proportion. (Authorized capital shall be of the order of Rs. 50 crores.)

  • Balance 50% of the authorized capital shall be issued subsequently to State power utilities, FIs, Banks, Traders etc.

  • Shareholding by an individual entity may be limited to 25% of the paid-up capital.

  • The Company shall have Shareholders’ representatives and also the nominee of CERC/ Government in suitable proportion on its Board of Directors.


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Thank you


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