AUGUST 2013, ISSUE 67

News and Information

REGULATORY NEWS 2

CSERC issues tariff order for CSPGCL, CSPTCL & CSPDCL for FY 13 – 14

DERC issues tariff order for BRPL, BYPL, TPDDL, NDMC and DTL

CERC issues second amendment to the REC regulations

HERC issues draft amendment to the Open Access regulations

MERC issues Suo-Moto order on RPO verification and compliance for Captive (CPP) and Open Access (OA) consumers

APERC issues draft proposal for determining the methodology of cross subsidy

APERC lifts R & C measure w.e.f 1st August, 2013

INDUSTRY NEWS 5

Power Market Update – July’13

49% FDI approved in power exchanges through automatic route

FOCUS OF THE MONTH 7

Deviation Settlement Mechanism

RENEWABLE NEWS 8

REC Market Update – July ’13

Wind Power generators files petition in Delhi high court against CERC order on RRF mechanism

INTERNATIONAL NEWS 8

FTR Auctions market commences in New Zealand

IEX TRADE INFO – JULY ’13 9

In this Issue

Bulletin

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REGULATORY NEWS

CSERC issues tariff order for CSPGCL, CSPTCL & CSPDCL for FY 13-14

On 12th July, 2013, CSERC issued joint tariff orders for CSPGCL, CSPTCL & CSPDCL for FY 13-14. The key highlights of the order are as follows:

• HT Industrial Tariff: No change in the tariff structure from the previous orders. The tariff for HT consumer category is as below:

HT Consumer category

Demand Charge

(`/kVA/month)

Demand Charge (`/kWh)

HT – 1.1 & 3.1 Steel

Industries and other

industries at 33 KV

360 3.50

HV-1.2 & 3.2 Steel

Industries and other

industries at 11 KV

370 3.60

HV-2.1: Mines and

Cement Industries at

33 KV

360 3.95

HV-2.2: Mines and

Cement Industries at

11 KV

370 4.05

• Short-Term Open Access Charges (Transmission): ` 0.233 per kWh

• Energy losses for transmission: 4.40%

Source: CSERC Website

DERC issues tariff order for BRPL, BYPL, TPDDL, NDMC and DTL

On 31st July, 2013, DERC issued a tariff order for FY 2013-14 for Discoms in its area.

The key highlights of the order are as below:

• HT Tariff: � Tariff increased by 5% for all DISCOM consumers

Tariff

Non-Domestic High Tension (NDHT)* For supply at 11 kV and

above (for load greater than 108 kVA)

Large Industrial Power (LIP)

(Supply at 11 kV and above)

Fixed Charges (`/kVA/month)

Energy Charges (Paisa/kVAh)

Fixed Charges (`/kVA/month)

Energy Charges (Paisa/kVAh)

BRPL 125 750 125 660

BYPL 125 750 125 660

TPDDL 125 750 125 660

NDMC 125 650 - -

• Losses and Charges � DTL - intra-state transmission losses : 1.21%

� Wheeling Losses and Charges

- Above 66kV: Zero for all except TPDDL i.e. ` 0.67/kWh

- At 33kV/66kV: Wheeling charge – Ranges from ` 0.61/unit to ` 0.68/unit

Wheeling loss – Ranges from 0.90% - 1.39%

- At 11kV: Wheeling charge – Ranges from ` 0.63/unit to ` 0.71/unit

Wheeling loss – Ranges from 2.00% - 3.96%

• Power Purchase through Short Term: � The Commission has directed BRPL, BYPL and

TPDDL to restrict the cost of power procured through short term contracts at ` 5 per kWh

� The Commission has also directed BRPL and BYPL to become a Trading Member of IEX and purchases on exchange shall not be made through any related party / trader

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• Approved power purchase for RPO:

Non-Solar Power (MU)

Non-Solar RECs (MU)

Solar Power (MU)

Solar RECs (MU)

BRPL 50 404.71 1 18.77

BYPL 255 11.09

TPDDL - 342.19 2.5 12.38

NDMC - 61.956 - 2.694

Source: DERC Website

CERC issues second amendment to the REC regulations

On 10th July, 2013, CERC notified the 2nd amendment to the CERC (Terms and Conditions for recognition and issuance of Renewable Energy Certificate for Renewable Energy Generation) Regulations, 2010. Some of the key amendments are summarized below:

• Eligibility: � Selling of electricity component by Renewable

Energy (RE) Generator to discom should be at the pooled cost of power purchase instead of ‘price not exceeding pooled cost of power purchase’

� Electricity Duty (ED) has been withdrawn as a promotional benefit in the provision

� A CGP (Captive Generating Plant) will become eligible for participation in the REC scheme after 3 years of forgoing the benefits of concessional transmission and wheeling charges/ or banking facility

� RE generator is eligible for REC if it does not sell electricity generated from the plant, either directly or through trader, to an obligated entity for compliance of the RPO by such entity

• Self Consumption/Retention of RECs � RE generator including CGP is now permitted to

retain the certificates for offsetting its own RPO as a consumer, subject to certification and verification by the concerned State Agency but this exemption does not exist for its group companies

• Time Period � Time period for issuances of certificate is increased

to 6 months from the date of generation � Validity period for certificates issued is seven

hundred and thirty days from the date of issuance

• The word ‘preferential tariff’ is removed from the regulations and hence procurement through competitive bidding is also recognized

Source: CERC Website

HERC issues draft amendment to Open Access regulations

HERC has proposed draft amendments to its “Terms and Conditions for grant of connectivity and open access for intra-State transmission and distribution system” Regulations, 2012. The key highlights of the proposed amendment are as follows:

Eligibility to avail Open Access (OA): Power availed through OA shall not be less than 20% of the contract demand of the consumer or 500 kW whichever is higher

Conditions for Day-Ahead Transactions by Embedded consumer through Exchange:

• Consumer to submit schedule of power through OA to Discom for all slots at 10:00 AM of D-1 (Delivery-1)

• The submitted schedule will be considered as a confirmed schedule for working out the slot-wise admissible drawl of the consumer from the licensee with reference to his sanctioned contract demand (Contract demand – Schedule through O.A = Admissible drawl from Discom)

• Deviation Settlement � Over drawl: if recorded drawl > 5% of admissible

drawl, pay surcharge @ 25% of the consumption charges for the total energy drawl during the month including the energy drawl through open access

� Under Injection by Generator: UI charges or highest tariff including FSA and PLEC, whichever is higher

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• MEDA to submit quarterly status to the Commission in respect of compliance monitoring of RPO by the Ob-ligated Entities

Source: MERC Website

APERC issues draft proposal for determining the methodology of cross subsidy

APERC proposed draft methodology of Cross Subsidy and levy of cross subsidy surcharge for the year 2013-14 vide its public notice dated 20.07.2013. Due to concerns expressed by various stakeholders against the embedded cost methodology adopted for determination of cross-subsidy, the Commission considered that there is a need for extensive public process of hearing on two available methodologies (a) National Tariff Policy and (b) Embedded Cost Method. However DISCOMs in their ARRs, have requested for determination of cross-subsidy surcharge based on the National Tariff Policy guidelines. The proposal provisionally determines CSS on both methodologies and seeks comments from stakeholders.

Source: APERC Website

APERC lifts R & C measure w.e.f 1st August, 2013

In its order dated 31st July, 2013, APERC removed the existing order on “Restriction and Control measures” with effect from 01.08.2013, considering representation of APPCC that an additional power of 1100 MW from hydel station is available from 31st July, 2013.

Source: APERC Website

� Under drawl by Consumer / Over Injection by Generator:

- Charge paid to consumer only in case of non-availability of network or unscheduled load shedding

- No charges paid to generator beyond 10% of scheduled injection in a time-slot or beyond 3% of scheduled injection on aggregate basis for all the 96 time - slots in a day

- OA consumer / Generator paid by Discom, whichever is the lowest out of the three: UI charges; lowest tariff for the relevant FY for any consumer category (excluding agriculture power supply); or power purchase/sale price contracted by the consumer/generator

Source: HERC Website

MERC issues Suo-Moto order on RPO verification and compliance for Captive (CPP) and Open Access (OA) consumers

On 22nd July, 2013, MERC issued suo-moto order suggesting good practices on RPO Monitoring, Reporting and Verification (MRV) to be followed in Maharashtra for tracking RPO Compliance by CPP and OA Consumers in the State. As per the order, MERC has directed:

• Constitution of a Working Committee to formulate the mechanism for monitoring, verification and compliance of RPO for OA & CPP and MEDA to report its formation and further developments thereon before 30th September, 2013

• In view of the difficulties faced owing to lack of appropriate mechanism, no regulatory charges shall be applicable on CPP and OA Consumers for non-fulfillment of RPO targets during FY 11, FY 12 and FY 13, provided that the same shall be fulfilled on a cumulative basis before 31st March, 2014

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INDUSTRY NEWS

Power Market Update – July ’13

With the advancement of monsoons, the overall power supply and demand condition eased in the country. However, the exchange experienced increased demand vis-à-vis last month in terms of purchase bids received in the Day-Ahead Market. The prices on the other hand remained attractive owing to the excessive supply at the exchange. Notably, the price for power on a few occasions even dropped to as low as ̀ 0.99 per unit with an exception of the Southern region and the State of Punjab.

On an average, the prices in the Southern Region remained below ` 5.00/unit and below ` 2.00/unit for rest of India except Punjab where the average price hovered around ` 7.54/unit.

The total cleared volume for the month of July was 2264 MUs, higher than last month when around 2114 MUs were cleared. Around 500 MUs were lost due to congestion in the transmission network which restricts the flow of electricity from one region to another. The average participation at the exchange for the month of July was 1306 participants.

VOLUMES:

Total purchase bids received in the DAM for the month of July’13 was at 2925 MUs, whereas the sell bids were at 4771 MUs indicating 63% more supply at the exchange. The average daily cleared volume was 73 MUs, higher than 70 MUs in the month of June’13.

Area wise total cleared sell and buy volume in the DAM is represented in the table below:

Area wise total cleared sell and buy volume in the DAM

REGIONBUY (MU) SELL (MU)

NETJuly '13 June '13 Change (%) July '13 June '13 Change (%)

North East 26.78 31.52 -15% 101.69 73.88 38% SELL

East 26.10 8.84 195% 116.02 197.98 -41% SELL

North 793.28 578.72 37% 1055.99 829.87 27% SELL

Punjab 2.98 279.85 -99% 1.00 22.17 -96% BUY

West 905.12 619.36 46% 677.87 637.08 6% BUY

South 510.02 596.28 -14% 311.71 353.58 -12% BUY

Evidently, for the month of July, the regions of North-East, East and North were the net sellers of electricity whereas Western and Southern region were the net buyers. This trend has reversed for the regions of North and West as compared to last month where Northern region was the net buyer and west was the net seller of power. The volumes traded through Punjab have declined greatly owing to the absence of corridor available for short term transaction via the exchanges as the state has tied its short term capacity in bilateral agreements leaving limited network for transactions through the exchange.

PRICES:

The prices at the exchange continued to remain low as a result of excessive supply. However, as compared to last month the average prices have risen slightly with the average unconstrained market clearing price for July’13

Bid AreaAverage Prices (`/kWh)

July'13 June'13Change

(%)

North-East (A1,A2) 1.95 1.95 0.00%

East (E1,E2) 2.00 1.94 3.28%

North (N1,N2) 2.02 1.96 2.83%

Punjab (N3) 7.54 2.37 218.26%

South (S1) 4.78 4.37 9.39%

South (S2) 5.19 4.43 17.23%

West (W1,W2,W3) 2.00 1.95 2.77%

MCP* 2.28 2.23 2.37%

* MCP: Market clearing price refers to the price discovered before accounting for any congestion in the transmission corridor

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Confederation of Indian Industry

Confederation of Indian Industry

at ` 2.28/unit, 2.4% higher than last month. There was no change in the average prices for North-East from last month although the prices in South (S2) showed an increase of 17% with average price touching ` 5.19/unit. The prices in Punjab showed steep rise as a result of unavailability of transmission network required to facilitate inter-state trade. Therefore, the trade during the month was majorly intra-state in nature i.e. within Punjab.

49% FDI approved in power exchange through automatic route

On 16th July, 2013, in a high-level meeting, chaired by the Prime Minister, FDI limit in Power Exchanges has been raised to 49% and with approvals through Automatic route, which was earlier to be approved by the Foreign Investment Promotion Board (FIPB). Automatic approval is available through Reserve Bank of India, a company is only required to report to RBI within 30 days of receipt of foreign equity or allotment of shares.

For more details: http://www.pib.nic.in/

EVENTS

National Committee on Power

25th June, New Delhi

Mr. Rajesh K. Mediratta, Director (BD) attended the conference

12th Green Power, 2013

27th-28th June, Hyderabad

Ms. Shruti Bhatia, Vice President (Policy and Communications) delivered a presentation on “Renewable Energy Certificate Market”

Evolving Thought Leadership On Green CSR Interventions

9th July, New Delhi

Mr. Rajesh K. Mediratta, Director (BD) attended the conference and delivered a presentation on “CSR through Voluntary REC Market”

Managing Cost of Energy

25th July, New Delhi

Mr. Rajesh K. Mediratta, Director (BD) attended the conference and delivered a presentation on “Options in the Energy Trading Market”

Round Table on Power

26th July, Baroda

Mr. Rajesh K Mediratta attended the conference as a panelist on “Accessing cheaper power through open access”

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Deviations from the scheduled generation and drawl of electricity lead to large fluctuations in frequency and thereby impact the whole grid. In India, before the introduction of Availability Based Tariff regime (ABT), these fluctuations in the frequency and voltage were common due to absence of checks on the generators who pumped in electricity in the grid irrespective of the grid frequency which resulted in frequent grid disturbances. With the introduction of ABT mechanism, a three part tariff structure was introduced wherein apart from fixed and energy charges, charges for deviations from the commitment (schedule) was included in the form of an Unscheduled Interchange (UI) Mechanism.

The IEGC regulations specifies the operating band of grid frequency and CERC in the past has narrowed down this permissible frequency range from time to time to further improve grid stability and strengthen the security. Different UI charges are applicable on deviations from the schedule based on the prevailing system frequency within and beyond the specified frequency range. These rates are higher when the frequency is lower and low when the frequency is high. The rationale is to reward or penalize the grid connected entities in case of deviations from schedule based on the frequency of the grid. This mechanism was conceived as a real-time balancing mechanism to improve grid discipline and introduce accountability on various grid connected participants.

The two major grid disturbances on 30th and 31st July, 2012 forced the Central Commission to take steps to further improve the grid security. As a result, on 20th

June, 2013, CERC issued notification on draft CERC (Deviation settlement mechanism and related matters) regulations, 2013. In the proposed regulations, CERC has plans to further narrow down the frequency band to 49.95 Hz-50.05 Hz so that the system operates close to 50 Hz. The key features of the draft are highlighted below: • The draft regulation proposes to adopt this new regu-

lation and repeal CERC (Unscheduled Interchange charges and related matters) Regulation, 2009

• DEVIATION CHARGES: Charges for deviation shall be worked out on the average frequency of a time-block at the rates specified below:

FOCUS OF THE MONTH

Average Frequency of the time block(Hz)

Charges for Deviation

Below Not Below Paise/kWh

50.05 0.00

50.05 50.04 35.60

50.04 50.03 71.20

50.03 50.02 106.80

50.02 50.01 142.40

50.01 50.00 178.00

50.00 49.99 333.40

49.99 49.98 488.80

49.98 49.97 644.20

49.97 49.96 799.60

49.96 49.95 955.00

49.95 - 1110.40

• DEVIATION CAP RATES: The draft proposes cap rate on charges for deviation which should not ex-ceed 333.40 Paise/kWh for all generating stations us-ing coal/lignite/gas supplied under APM as fuel and unscheduled interchange for under-drawl and over-injection.

• VOLUME DEVIATIONS: The draft also proposes to put strict volume limits on over/under drawl and over/under injection irrespective of the grid frequency as per the following: � Additional Charges for Frequency Deviation at

49.95 Hz and aboveAdditional charge will be the specified percentage of deviation charge corresponding to frequency ‘below 49.95 Hz’ on crossing the volume limit as specified below

Deviation Volume

Additional Deviation Charge

20% 40% 100%

In a time block

> 12% - 15% or

> 15 % - 20% or

> 20 % or

>150 MW - 200 MW

> 200 MW - 250 MW

> 250 MW

Over the day > 3% - 4% > 4% - 5% > 5%

� Additional charges for Frequency deviation be-low 49.95 HzAdditional charge equivalent to 100% of the charge for deviation of 1110.40 Paise /kWh corresponding to the grid frequency of “below 49.95 Hz” will be applicable.

Deviation Settlement Mechanism

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RENEWABLE NEWS Wind Power generators files petition in Delhi High Court against CERC order on RRF mechanism

The Wind Independent Power Producers Association has filed a petition with the Delhi High Court against the CERC, over the Commission’s recent ‘scheduling and forecasting’ order.

The order asks wind power generators to forecast their generation for the next day, for every 15 minute interval and face penalty if the actual generation is 30 percent more or less than the submitted forecast. Some wind generators fear that the penalties beyond +/- 30% would eat away 12-15% of the companies’ profits, while some other in the industry feel that the impact will not be that severe, as the mechanism allows power producers to change their schedule as many as eight times during the day.

REC Market Update: July’13

The fourth Renewable Energy Certificate (REC) trading session of FY 14 held on 31st July, 2013, at IEX featured trade of 72,321 N-Solar and 1,983 Solar RECs. This trading session witnessed increased volumes of traded RECs over the previous months, however the demand-supply imbalance still remains with supply far exceeding demand.

For non-solar RECs, buy bids of 72,321 RECs and sell bids of 16, 76,875 RECs were received against which 72,321 were cleared at ` 1,500 per REC. For solar RECs, buy bids of 1,983 RECs and sell bids of 12,486 RECs were received against which 1,983 RECs were cleared at ` 9,300 per REC.

This trading session featured 770 market participants of which 610 participated in non-solar segment while 160 participated in the solar segment.

On an overall basis, a total of 1877 participants are registered in REC segment at IEX. Of this, 467 are eligible entities (RE generators) 1397 are obligated entities (Discoms, Open access consumers & Captive generators) and 13 are registered as voluntary entities.

Non-solar REC

Solar REC

Trade Volume (REC) 72,321 1,983

Sale bid (REC) 16,76,875 12,486

Purchase Bid (REC) 72,321 1,983

Price discovered (Rs/REC) 1,500 9,300

No. of participants 610 160

An overview of participation in the REC Market at IEX as on 31st July’13:

Total number of registered participants 1,880

Obligated Entity 1,397

DISCOMs 26

Open Access consumers 1301

Captive Consumer 70

Voluntary 13

Eligible Entity (Private Generators) 467

Highest participation in a session (March’13) 1,135

INTERNATIONAL NEWS

FTR Auctions market commences in New Zealand

The Electricity Authority of New Zealand has finally given a go ahead to introduce FTR (Financial Transmission Rights) in New Zealand. The Authority’s objective in introducing a market in FTRs is to promote competition in the electricity industry for the long term benefit of consumers. FTRs are believed to provide all participants in the energy market, a tool for managing exposure to the price impact of transmission constraints.

The Energy Market Services (EMS) has been appointed by the Electricity Authority as the FTR Manager Service Provider with the NZX acting as the clearing agent. The initial project involved implementing a system to auction Financial Transmission Rights for the electricity market. The market system went live on 23rd May, 2013, with the first FTR auction on 12th June, 2013 with eight companies bidding for cover over the price difference between Otahuhu in Auckland and Benmore in the South Island over one calendar month.

For more details: https://www.ftr.co.nz/

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Prices (`/kWh)

Area Min Max RTC* (0-24 hr)

Peak* (18-23 hr)

Non Peak* (1-17 & 24 hr)

Night* (1-6 & 24 hr)

East 1.00 3.60 2.00 2.42 1.87 1.80

North East 1.00 3.60 1.95 2.42 1.79 1.80

North(N1/N2) 1.00 3.70 2.02 2.44 1.87 1.81

North(N3) 2.92 10.00 7.54 7.39 7.58 7.56

West 1.00 3.60 2.00 2.42 1.87 1.80

South(S1) 1.25 19.00 4.78 6.11 4.34 4.01

South(S2) 1.25 20.00 5.19 7.51 4.46 4.05

* Simple Average of Area Clearing Prices for specified duration of time

IEX TRADE INFO - JULY 2013

MONTHLY VOLUME SNAPSHOT

PARTICIPATION SNAPSHOT (as on 31st July’13)

MONTHLY PRICE SNAPSHOT

DAY-AHEAD MARKET

MAXIMUM MCP

` 2.97/kWh

MINIMUM MCP

` 1.7/kWh

AVERAGE MCP

` 2.28/kWh

UnconstrainedVolume

2,720

3,656

ClearedVolume

3,043

PurchaseBids

3,932

SellBids

2,264 2,925 4,771

6,413

Average DailyVolume

73 MUs

CumulativeCleared

Volume (MU)

9,393For the FY 14

VOLUMES

Total Volume(MUs)

Average Daily(MW)

TOTAL REGISTEREDPARTICIPANTS

2,258

OPEN ACCESSCONSUMERS

2,032

PRIVATEGENERATORS

180

HIGHESTPARTICIPATION

1,41022nd June,'13

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CONGESTION PROFILE - JULY 2013

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TERM AHEAD MARKET SNAPSHOT

REC MARKET SNAPSHOT

Trade Session on 31st July, 2013

Source wise RE capacity (MW) State wise RE capacity (MW)

Weekly

Daily

Day-AheadContingency

Intraday

CONTRACTS

-

-

2,475

15,904

TOTAL VOLUME(MWh)

-

-

3.35

7.90

MAX PRICE(`/kWh)

-

-

2.00

1.80

MIN PRICE(`/kWh)

PURCHASEBIDS

72,321

1,983

SELLBIDS

12,486

16,76,875

CLEARED(REC)

1,983

72,321

PRICE(`/REC)

1,500

9,300

REC

Non Solar

Solar

Small Hydro

Solar PV Others

Wind Bio-fuel cogeneration

Biomass

Tamil Nadu Maharashtra

Uttar Pradesh Gujarat

Karnataka RajasthanAndhra Pradesh Madhya Pradesh

Chhattisgarh Punjab

Others

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Indian Energy Exchange Ltd.Corporate Office: 100A/1 Ground Floor, Capital Court, Olof Palme Marg, Munirka, New Delhi - 110067, India.

TelNo.:+91-11-43004000•FaxNo.:+91-11-43004015Registered Office: 1st Floor, Malkani Chamber, Off Nehru Road, Vile Parle (E), Mumbai - 400099.

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.

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My all good wishes!

S M Sahay

Former Chairman & Member, BERC

Dear Readers,

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Warm regards,Team IEX

Dear IEX Team,Thanks for providing the updates of power sector on regular basis, it always proves to be very useful.

Regards,Amit JoshiAsst. Manager –Commercial Department, Greenko Group

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