www.iexindia.com | 01

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

REGULATORY NEWS

Ministry of Power notifies guidelines for short-term power procurement by DISCOMS

On 30th March, 2016, Ministry of Power notified guidelines for short-term power procurement for a period of more than one day to one year by DISCOMS through the National E-Bidding portal. The key features of the guidelines are as below:

� Power procured from Power Exchanges to be excluded from the scope of these Guidelines.

� Each E-Bidding event to have two parts: E-Tender and E-Reverse Auction.

� To ensure standardization in evaluation of bids, price offered by bidders will be same for procurers inviting the bid.

� Only Bidders to pay a one-time non-refundable registration fee of ` 20,000/-.

� All Bidders can participate in E-Bidding by paying ` 500 per MW to PFFCL for maximum capacity a bidder is willing to bid.

� Procurer can invite bids on RTC basis or for different time slots. The procurer can also provide flexibility to Bidder(s) to bid for a part of the tendered quantity, subject to a given minimum quantity and having a constant bid capacity for the entire contract period.

� Bidders to submit EMD (Earnest Money Deposit) for maximum capacity they wish to offer@ ` 30,000/- per MW per month on RTC basis. The same shall be reduced on pro-rata basis in case bids are invited on hourly basis, in the form of Bank Guarantee/eBank Guarantee.

� Bidders to pay ` 2 lac per MW per month (30 days, 24 hours) of contract period or part thereof as contract performance guarantee.

More information: www.powermin.nic.in

GERC issues Tariff orders for the DISCOMS and GETCO for FY 16-17

On 31st March, 2016, the GERC issued Tariff orders for DGVCL, PGVCL, MGVCL, UGVCL and GETCO for FY 16-17. The key highlights are as below:

� Wheeling charges at 11 kV : 14 Ps./kWh (same as last year).

� Distribution losses at 11 kV, 22 kV and 33 kV: 10% (same as last year).

� Cross subsidy charge: ` 1.45/kWh (up 146% from ` 0.59/kWh last year).

� Transmission Tariff (GETCO): ~ 11.86 Paisa/Unit (up 2% from 11.60 Paisa/unit last year).

� Additional Surcharge: 49 paisa/kWh (down 26% from 66 Paisa/kWh last year).

MAY'16 ISSUE 5 | VOLUME 3

In thIs Issue...

PAGE REGULATORY NEWS

BULL

ETIN

LLET

IEX

IEX

LETIN

IEX

IEX

IEXIEX

IEX

IEX

IEXIE

X

BULLETIN

BULLETIN

BULLETIN

IEX

BULL

BULLETIN

LL

BULL

BULL

01 Ministry of Power notifies guidelines for short-term power procurement by DISCOMS

BULL

ETIN

LLET

IEX

IEX

LETIN

IEX

IEX

IEXIEX

IEX

IEX

IEXIE

X

BULLETIN

BULLETIN

BULLETIN

IEX

BULL

BULLETIN

LL

BULL

BULL

01 GERC issues Tariff orders for the DISCOMS and GETCO for FY 16-17

BULL

ETIN

LLET

IEX

IEX

LETIN

IEX

IEX

IEXIEX

IEX

IEX

IEXIE

X

BULLETIN

BULLETIN

BULLETIN

IEX

BULL

BULLETIN

LL

BULL

BULL

02 CERC issues 4th amendment to IEGC Regulations

BULL

ETIN

LLET

IEX

IEX

LETIN

IEX

IEX

IEXIEX

IEX

IEX

IEXIE

X

BULLETIN

BULLETIN

BULLETIN

IEX

BULL

BULLETIN

LL

BULL

BULL

02 JERC issues Tariff Order for Goa for FY'17

BULL

ETIN

LLET

IEX

IEX

LETIN

IEX

IEX

IEXIEX

IEX

IEX

IEXIE

X

BULLETIN

BULLETIN

BULLETIN

IEX

BULL

BULLETIN

LL

BULL

BULL

03 KERC issues tariff order for FY’17

BULL

ETIN

LLET

IEX

IEX

LETIN

IEX

IEX

IEXIEX

IEX

IEX

IEXIE

X

BULLETIN

BULLETIN

BULLETIN

IEX

BULL

BULLETIN

LL

BULL

BULL

03Ministry of Power launches ‘VIDYUT PRAVAH’ (Website/Android Mobile App) displaying IEX Volumes and prices

PAGE MARkET INSIGhTS

BULL

ETIN

LLET

IEX

IEX

LETIN

IEX

IEX

IEXIEX

IEX

IEX

IEXIE

X

BULLETIN

BULLETIN

BULLETIN

IEX

BULL

BULLETIN

LL

BULL

BULL

04 MoP Report on Large Scale Integration of Renewable Energy

PAGE MARkET NEWS

BULL

ETIN

LLET

IEX

IEX

LETIN

IEX

IEX

IEXIEX

IEX

IEX

IEXIE

X

BULLETIN

BULLETIN

BULLETIN

IEX

BULL

BULLETIN

LL

BULL

BULL

06 Power Market Update: April’16

BULL

ETIN

LLET

IEX

IEX

LETIN

IEX

IEX

IEXIEX

IEX

IEX

IEXIE

X

BULLETIN

BULLETIN

BULLETIN

IEX

BULL

BULLETIN

LL

BULL

BULL

07 REC Market Update: April’16

PAGE TRADE INFO

BULL

ETIN

LLET

IEX

IEX

LETIN

IEX

IEX

IEXIEX

IEX

IEX

IEXIE

X

BULLETIN

BULLETIN

BULLETIN

IEX

BULL

BULLETIN

LL

BULL

BULL

08 Trade Data: April’16

02 | www.iexindia.com

� HT Tariff:

More information: www.gercin.org

CERC issues 4th amendment to IEGC Regulations

On 6th April, 2016, the CERC notified the 4th amendment to IEGC Regulations. The amendments have been made in relation to the date of commercial operation, Trial Run or Trial Operations and Technical minimum schedule for the inter-state generating stations. The key highlights of the amendments are as below:

� New Regulations have been added for Commercial operation and technical minimum schedule of Central and inter-state generating stations.

� Compensation to CGS/ISGS:

− In case the CGS/ISGS is directed by the concerned RLDC to operate below normative plant availability factor but at or above technical minimum, the CGS or ISGS will be compensated depending on the average unit loading.

− The compensation is to be borne by entity that has caused the plant to be operated at schedule lower than corresponding to Normative Plant Availability Factor, up to technical minimum, based on the compensation mechanism finalized by the RPCs.

− Change in schedule under the provisions of CERC (Ancillary Services Operations) Regulations, 2015 is not considered for compensation.

− The generating company has to record increase in emission levels from the plant due to part load operation and submit a report for each year to the Commission by 31st May of the year.

More information: www.cercind.gov.in

JERC issues Tariff Order for Goa for FY17

On 18th April, 2016, JERC issued a Tariff Order for Energy Department (ED) Goa for FY’17. Key highlights of the order are as below:

� HT Tariff:

i) DEMAND CHARGES

FY 16-17 (`/kVA/month)

(a) For billing demand in excess of 1000 kVA 475

(b) For billing demand in excess over the contract demand 555

ConsumerTariff FY-16-17

FC (`/kVa/month) EC (`/kWh)

HT Industrial 11/33 kv

250

4.30

HT Industrial 132 kv 4.20

HT Commerical 5.50

ii) ENERGY CHARGES

FY 16-17 (paise/unit)

(a) For billing demand above 500 kVA and up to 2500 kVA 420

(b) For billing demand above 2500 kVA 430

www.iexindia.com | 03

� T&D Losses: 11.25%.

� Wheeling Charges: ` 0.87/kWh for HT/EHT.

� Cross Subsidy Surcharge for HT/EHT: ` 0.99/kWh.

� ED Goa is now prepared to grant approvals to open access consumers based on the feasibility at the consumer end.

� The perceived shortage of 55.34 MUs has been approved for procurement through Exchanges.

� JERC has ordered purchase of RECs in FY17 for net shortfall of 57 MUs in Non-Solar RPO Compliance.

More information: www.jercuts.gov.in

kERC issues tariff order for FY’17

On 30th March, 2016, Karnataka Electricity Regulatory Commission (KERC) issued the Tariff Order for FY’17. The charges as per the tariff order are as below:

More information: www.karnataka.gov.in/kerc

Ministry of Power launches ‘VIDYUT PRAVAh’ (Website/Android Mobile App) displaying IEX Volumes and prices

On 31st March 2016, Ministry of Power launched a mobile application and website providing power availability and IEX prices in real time. The website is named ‘VIDYUT PRAVAH – Electricity Price, Availability and Highlights’. The website/mobile app gives State wise prices discovered at IEX, quantum of power brought from the Exchange and the unsold volume at the Exchange along with deficit and surplus of each State.

More information: www.vidyutpravah.in

Cross Subsidy Surcharge (CSS):

Tariff Category Category Description Particulars Approved CSS (`/unit)

HT-2(a) HT Industrial66 kV & above 1.18

HT Level - 11 kV/33kV 0.86

HT-2(b) Commercial66 kV & above 2.53

HT Level - 11 kV/33kV 2.22

Escom Tariff Category Particulars Approved as per Tariff Order 2016

BESCOM HT-2(a)(i)

Demand Charges (DC) per kVA ` 190/-

Energy Charges

0 to 1 Lakh kWh ` 6.25/unit

> 1 Lakh kWh ` 6.75/unit

Other Escoms of Karnataka HT-2(a)*

Demand Charges (DC) per kVA ` 180/-

Energy Charges

0 to 1 Lakh kWh ` 6.20/unit

> 1 Lakh kWh ` 6.60/unit

* The same is applicable to HT - 2(a)(ii) of BESCOM

04 | www.iexindia.com

MARkET INSIGhTS

MoP Report on Large Scale Integration of Renewable Energy

The variable and intermittent nature of renewable energy can affect the secure and reliable operation of the grid. Therefore, to make the grid reliable, deviation handling, forecasting, balancing and ancillary services are a pre-requisite, at both inter-state and intra-state level. At the same time, increased penetration of renewable energy will require greater flexibility in conventional power generation, maintain frequency control and reserves. In order to study and suggest a roadmap, the Ministry of Power constituted a Technical Committee comprising of members from CERC, CEA, CTU, POSOCO, NTPC, NISE, MoP etc.

The technical committee in its recently submitted report on "Large Scale Integration of Renewable Energy, need for balancing, Deviation Settlement Mechanism (DSM) and associated issues", has recommended the following action plan:

1. Regulatory Framework for handling Deviations

A regulatory framework for inter and intra-state deviation, metering, accounting and settlement mechanism (including renewables), must be in place and implemented at the State level in 2016. This framework has already been implemented at the inter-state level and also in five States across the country. Subsequently, deviation price needs to be linked to market linked mechanism with suitable price discovery process.

2. Forecasting and Scheduling

Forecasting for RE generation as well as load is essential for ensuring resource adequacy and grid security. This framework has already been put into place by the CERC at the inter-state level and the same can be used as a reference for the intra-state regulations. Model Regulations for regulatory framework for Forecasting, Scheduling and Imbalance Settlement for Renewable Energy (RE) generators have been published in 2015 and Draft regulations are already out in Madhya Pradesh, Rajasthan, Karnataka, Tamil Nadu, Odisha and Jharkhand. Rest of the States are in the process of formulation of the same.

3. Deployment of Reserves

A framework for identification and utilising of generation reserves available with regulated generators needs to be implemented. Such reserves must be identified and kept available all the time for the system operator, in order to maintain grid reliability and security. Necessary incentives to the generator should also be given for maintaining and deploying the reserves. The regulatory framework for deployment of reserves at inter-state level has already been specified by the CERC.

4. Transmission System Augmentation and Strengthening

Technical Standards for RE generation incorporating features like Low Voltage Ride Through (LVRT), High Voltage Ride Through (HVRT) should be notified on an urgent basis by the Commission for the smooth functioning of the grid.

www.iexindia.com | 05

5. Ancillary Services

In an electricity grid, some system support services such as frequency and voltage control are required for secure & reliable grid operation. These support services are known as ‘Ancillary Services’ and are basically procured and called into service by the System Operator. The regulatory framework for implementation of Ancillary Services Operations has already been notified by CERC and National Tariff Policy, 2016 also mandates implementation of Ancillary Services with NLDC as the designated Nodal agency for its implementation.

6. Balancing Requirements

Each DISCOM/SLDC will be required to commit adequate generating resources to meet the anticipated load and RE generation. Therefore, a balanced portfolio will have to be maintained at the State level.

7. Frequency Control

Regulatory framework for primary control supplemented by secondary control and tertiary control has to be put in place. The Roadmap for Frequency Response and Secondary Response has already been provided by the CERC.

8. Harnessing and Incentivizing Flexibility

Provisions for meeting the changing load profile and maintaining system stability have to be made and implemented alongwith provisions for incentivizing flexibility of conventional generation. The CERC, in the recent past, has notified the Fourth Amendment to the IEGC Regulations which specifies the Technical Minimum Schedule for operation of Central Generating stations and Inter-State Generating Stations.

9. Communication in Power Sector

Regulatory framework for communication in power sector including smooth real time data transfer between the RE pooling stations and the SLDC/REMC is to be implemented by March, 2017. MOP, MNRE, GIZ, POSOCO and States are working together to prepare the DPR for implementation of Renewable Energy Management Centres (REMCs). DPR for Southern States and Southern Regional Load Despatch Centre (SRLDC) is also about to be finalized.

10. Capacity Building of LDCs particularly in RE Rich States

Lastly, the system operator needs to be properly equipped to plan, operate, maintain and govern power systems with increasing share of renewables in the total installed capacity of the country. Moreover, Capacity Building should be undertaken at an ongoing basis with utmost priority.

The above action plan is expected to ensure smooth and secure grid operations with large scale integration of renewable energy.

06 | www.iexindia.com

Power Market Update: April’16

The spot power market at IEX traded over 115 MUs on a daily average basis in April’16, highest ever since the inception of the market in the year 2008.

A total of 3,465 MUs were traded this month, an increase of about 13% over 3,078 MUs traded in March. Average daily purchase bids were 6,151 MW while sell bids were 7,164 MW, an increase of about 14% and 5% respectively over the previous month. Thus, the market on an overall basis remained buyer friendly.

Despite rising temperature and high power demand across the country, the average Market Clearing Price (MCP) in April was ` 2.91 per unit.

Congestion

On an overall basis, the Exchange lost 10 MUs per day due to congestion, almost 11% more than 9 MUs per day lost in March. The ER->SR and WR->SR interconnections were congested about 77% of the time and ER->NR and WR->NR interconnections were congested 36% of the time during the month.

Volumes

A few key highlights for April’16 are as given below:

� Total Sell bids – 5,158 MUs

� Total buy bids – 4,428 MUs

� Total Cleared Volume – 3,465 MUs

The Northern and Southern States were Net Buyers while the Eastern, Western and North-Eastern States were Net Sellers.

The table below gives the average daily buy-sell picture at regional level for April’16 vis-à-vis March’16:

Price

The average Area Clearing Price (ACP) - the price at which settlement takes place, were as below:

� North-East, East and West: ` 2.69 per unit, 12% increase over March.

� North: ` 2.92 per unit, 12% increase over March.

� South: ` 4.16 per unit, 17% increase over March.

Participation

1,046 participants traded in the spot market on an average daily basis. The highest participation was on 21 April, 2016 when 1,093 participants traded on the Exchange.

Term-Ahead Market

About 122 MUs were scheduled during the month across all segments of the Term Ahead Market - Intraday, Day Ahead Contingency, weekly and Daily.

01-0

4-20

16

03-0

4-20

16

05-0

4-20

16

06-0

4-20

16

07-0

4-20

16

09-0

4-20

16

11-0

4-20

16

13-0

4-20

16

15-0

4-20

16

17-0

4-20

16

19-0

4-20

16

21-0

4-20

16

23-0

4-20

16

25-0

4-20

16

27-0

4-20

16

29-0

4-20

16

Pric

e (`

/kW

h)

Price During the Month RoI North South

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

North - Avg price: ` 2.92/kWhRest of India - Avg price: ` 2.69/kWh

South - Avg: ` 4.16/kWh

MARkET NEWS

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

NETApril'16 March'16 Change (%) April'16 March'16 Change (%)

North East 85.32 105.80 -19% 218.00 126.81 72% SELL

East 842.93 607.25 39% 964.26 835.10 15% SELL

North 1821.34 1598.46 14% 999.49 738.99 35% BUY

West 1333.63 1171.34 14% 2344.15 2182.76 7% SELL

South 729.55 654.27 12% 286.87 253.45 13% BUY

www.iexindia.com | 07

On an overall basis, a total of 3,151 participants are registered in the REC segment at IEX. Of this, 829 are Eligible Entities (RE Generators) 2,309 are Obligated Entities (DISCOMs, Open Access Consumers & Captive Generators) and 13 are registered as Voluntary Entities.

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

A total of 2.61 lacs RECs were traded in the REC market trading session held at IEX on 27 April, 2016. With April being the first month of FY 2016-17 annual compliance period, the market made a good start since same time last year only about 45,000 RECs were traded.

Several Obligated Entities who purchased RECs in this trading session are essentially fulfilling their RPO compliance for FY 15-16.

The key details of this trading session are as below:

� Non-solar segment: Total buy bids were 2,38,485 and total sell bids were 89,80,430.

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

� Solar segment: Total buy bids were 22,958 and total sell bids were 23,48,055.

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

Participants:

A total of 1,420 participants traded at IEX with 904 participants in non-solar segment and 516 participants in the solar segment.

Total number of registered participants 3,150

Obligated Entity 2,309

DISCOMs 31

Open Access Consumers 2,115

Captive Consumer 113

Voluntary 13

Eligible Entity (Private Generators) 828

Highest participation in a session (March'16) 2,105

REC MARkET UPDATE: APRIL’16

702 (3%)12,074 (53%)

10,182 (44%)

Solar Buyer Mix

Captive User

Discom

Open Access

Non Solar Buyer Mix

102,674 (43%)54,184 (23%)

81,627 (34%)

Captive User

Discom

Open Access

08 | www.iexindia.com

TRADE INFO: APRIL’16

MONThLY PRICE SNAPShOT

Minimum MCP Maximum MCP Average MCP

` 2.91/kWh` 5.53/kWh` 0.90/kWh

MONThLY VOLUME SNAPShOT 1 MU = 1 Million kWh = 1 GWh

AREA PRICES

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, North East & West 0.80 5.30 2.69 2.96 2.60 2.75

North 0.80 6.50 2.92 3.03 2.88 3.19

South 1.50 10.00 4.16 3.99 4.22 3.41

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

Average Daily

Volume

116 MUs

Unconstrained Volume

3,763

5,226

Cleared Volume

3,465

4,813

PurchaseBids

4,428

6,151

Sell Bids

5,158

7,164

Cumulative Cleared

Volume (MU)

3,465For FY'17

VOLUME

Average Daily (MW)

TotalVolume (MUs)

www.iexindia.com | 09

TERM AhEAD MARkET SNAPShOT (April’16)

Total Volume (MWh)

Max Price (`/kWh)

Min Price (`/kWh)Contracts

24,833 4.50 1.90Day-Ahead Contingency

45,689 4.95 4.20Weekly

36,201 6.50 2.00Intraday

15,600 4.40 4.40Daily

RP: Registered Projects

REC MARkET SNAPShOT

Trade Session on 27 April, 2016

RECPurchase

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

89,80,430 1,5002,38,485 904Non Solar 2,38,485

22,958 3,500Solar 22,958 23,48,055 516

1257

1027

746

352

137

379

155

215

65 73123

303

RP: 4831 MW

State-wise RE Capacity (MW)

Tamil Nadu

Karnataka

Chhattisgarh

Maharashtra

Rajasthan

Punjab

Uttar Pradesh

Andhra Pradesh

Himachal Pradesh

Gujarat

Madhya Pradesh

Others

Small Hydro

Solar

Others

Wind

Bio-fuel Cogeneration

Biomass

Source wise RE capacity (MW)

Registered ProjectsRegistered Projects

RP: 4831 MW 2301

894

699

300

6362

10 | www.iexindia.com

PARTICIPATION SNAPShOT (as on 30th April, 2016)

Total Registered Participants

3,900+

Open Access Consumers

3,450

Private Generators

313

Highest Participation

1,410, 22nd June'13

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

0.00

20000.00

40000.00

60000.00

80000.00

100000.00

120000.00

140000.00

160000.00

180000.00

200000.00

Pric

e (`

/kW

h)

Volu

me

(MW

h)

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

Hours

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

Average Hourly Market Clearing Volume and Price for the Month

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

Pric

e `/

kWh

Volu

me

MW

h

IEX Price and Volume Trend in April 2016

01-0

4-20

16

02-0

4-20

16

03-0

4-20

16

04-0

4-20

16

05-0

4-20

16

06-0

4-20

16

07-0

4-20

16

08-0

4-20

16

09-0

4-20

16

10-0

4-20

16

11-0

4-20

16

12-0

4-20

16

13-0

4-20

16

14-0

4-20

16

15-0

4-20

16

16-0

4-20

16

17-0

4-20

16

18-0

4-20

16

19-0

4-20

16

20-0

4-20

16

21-0

4-20

16

22-0

4-20

16

23-0

4-20

16

24-0

4-20

16

25-0

4-20

16

26-0

4-20

16

27-0

4-20

16

28-0

4-20

16

29-0

4-20

16

30-0

4-20

16

Cleared Volume (MWh) MCP N1 S1 W3

www.iexindia.com | 11

0

0.2

0.4

0.6

0.8

1

1.2

1.4

1.6

Pric

e D

i�er

entia

l (`/

kWh)

01-0

4-20

16

02-0

4-20

16

03-0

4-20

16

04-0

4-20

16

05-0

4-20

16

06-0

4-20

16

07-0

4-20

16

08-0

4-20

16

09-0

4-20

16

10-0

4-20

16

11-0

4-20

16

12-0

4-20

16

13-0

4-20

16

14-0

4-20

16

15-0

4-20

16

16-0

4-20

16

17-0

4-20

16

18-0

4-20

16

19-0

4-20

16

20-0

4-20

16

21-0

4-20

16

22-0

4-20

16

23-0

4-20

16

24-0

4-20

16

25-0

4-20

16

26-0

4-20

16

27-0

4-20

16

28-0

4-20

16

29-0

4-20

16

30-0

4-20

16

E N

CONGESTION PROFILE (April 2016)

0

0.5

1

1.5

2

2.5

3

3.5

4

Pric

e D

i�er

entia

l (`/

kWh)

South Import

01-0

4-20

16

02-0

4-20

16

03-0

4-20

16

04-0

4-20

16

05-0

4-20

16

06-0

4-20

16

07-0

4-20

16

08-0

4-20

16

09-0

4-20

16

10-0

4-20

16

11-0

4-20

16

12-0

4-20

16

13-0

4-20

16

14-0

4-20

16

15-0

4-20

16

16-0

4-20

16

17-0

4-20

16

18-0

4-20

16

19-0

4-20

16

20-0

4-20

16

21-0

4-20

16

22-0

4-20

16

23-0

4-20

16

24-0

4-20

16

25-0

4-20

16

26-0

4-20

16

27-0

4-20

16

28-0

4-20

16

29-0

4-20

16

30-0

4-20

16

N3 Import W3 ExportE�S W�S S1�S2 W�N E�N

77.3% 77.3%

0.0%

36.3% 36%

0% 0%0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%% of time congestion

Readers’ Feedback

CONNECT WITH US

IEX Appavailable on IOS and Android

/IndianEnergyExchangeLtdIEX

@IEXLtd

Dear Readers,

We thank you for your encouraging response and support towards the IEX Bulletin. In our efforts to make this bulletin even more informative, we request you to send your suggestions and valuable feedback to kabir.wahi@iexindia.com

Warm regards,

Team IEX

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.

MAY

201

6

Indian Energy Exchange LimitedFourth Floor, TDI Centre, Plot No. 7, Jasola District Centre, New Delhi - 110025 | CIN: U74999DL2007PLC277039

Phone: +91-11-43004000 | Fax: +91-11-43004015 | Email: iex-bd@iexindia.com | www.iexindia.com

/IndianEnergyExchangeLtdIEX @IEXLtd|