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

OcTObER'16 ISSUE 10 | VOlUME 3

www.iexindia.com | 01

In thIs Issue...

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01 JERC-UT determines Additional Surcharge in DNH for FY’17

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01 RERC issues Retail Tariff Order for FY’16

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01 MPERC order on Intra-State Power Market in Madhya Pradesh

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02 MOP waives off ISTS Charges and Losses for Wind and Solar projects

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02CERC Draft Communication System for inter-State transmission of Electricity Regulations, 2016

PAGE INTERNATIONAl NEWS

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02 Japan mulls introduction of clean energy power exchange

PAGE MARkET INSIGHTS

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03 IEX Study Tour on Power Markets and RE Grid Integration - Germany: Sept'16

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07 Power Market Update: September’16

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08 REC Market Update: September’16

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09 Trade Data: September’16

Particulars

Existing Tariff Approved Tariff

Energy Charges

Fixed Charges

Energy Charges

Fixed Charges

SCL above 150 HP & or having Contract/Maximum Demand above 125 kVA (HT-5)

` 6.50/ unit

` 170/ kVA of Billing

Demand per month

` 7.30/ unit

` 185/ kVA of Billing

Demand per month

REGUlATORY NEWS

JERc-UT determines Additional Surcharge in DNH for FY’17

On 15th September, 2016, the Joint Electricity Regulatory Commission-UT issued an Order notifying the Additional Surcharge (AS) of ` 0.47 per kWh for FY 2016-17 for Open Access consumers in Dadar and Nagar Haveli.

The Order advises consumers to explore long- term open access so that the distribution licensee is in a position to consider surrender of power and plan procurement of power, factoring in its obligation to supply power. The Order further underlines urgent need for formulating detailed guidelines for procurement of power by distribution licensees so as to ensure optimum and economic contracting of power.

More information: www.jercuts.gov.in

RERc issues Retail Tariff Order for FY’16

On 22nd September, 2016, the RERC issued the retail tariff order for FY 2015-16 applicable from 1st September, 2016. The energy charges of large industries have been increased by 80 Paisa/Unit. The comparison of tariff is as under:

Large industries (HT-5)

More information: www.rerc.rajasthan.gov.in

MPERc order on Intra-State Power Market in Madhya Pradesh

On 26th September, 2016, the MPERC issued an order in Petition filed by M/s REI Power Bazaar Private Limited, seeking permission for setting up and operation of Intra-State power market in Madhya Pradesh.

The Petition has been disposed by the Commission on account of Regulations related to “Setting up and operation of Power Exchange in Madhya Pradesh” not being notified. Therefore, petitioner has been directed to approach the Commission after notification of relevant Regulations.

More information: www.mperc.nic.in

02 | www.iexindia.com

MOP waives off ISTS charges and losses for Wind and Solar projects

On 30th September, 2016 the Ministry of Power in consultation with CERC, MNRE, CEA and PowerGrid notified waiver of ISTS Charges and Losses for Wind and Solar projects. The key points of the notification are as below:

For Wind Projects

� No ISTS charges and losses for projects commissioned till 31st March, 2019

� Waiver is only for sale to Discom under the PPA and is valid for 25 years from date of commissioning.

For Solar projects

� No ISTS charges and losses for projects commissioned till 30th June, 2016 as per the CERC (Sharing of Inter-Sate Transmission Charges and Losses)(Third Amendment) Regulations, 2015

� The waiver is only for projects awarded through competitive bidding and valid for 25 years from date of commissioning.

More information: www.powermin.nic.in

cERc Draft communication System for inter-State transmission of Electricity Regulations, 2016

On 7th September, 2016, the CERC proposed Draft Communication System for inter-State transmission of electricity Regulations, 2016. The key points of the Draft Regulations are as below:

� Lays down the rules, guidelines and standards for continuous availability of data for system

operation and control, including market operations.

� Deals with planning, implementation, operation & maintenance and upgradation of reliable communication system for all communication requirements, including exchange of data for inter-State transmission of electricity.

Applicability

� Communication infrastructure to be used for voice, video and data communication and tele-protection for power system.

� All Users, SLDCs, RLDCs, NLDC, CEA, CTU, STUs, RPCs, Renewable Energy Management Centre (REMC), FSP and Power Exchanges.

Nodal Agencies

� CTU for planning and coordination for development of communication system for ISTS.

� STU for planning, and coordination for development of communication system for intra state transmission system.

� RLDC for ISTS and SLDCs for intra-State system - for integration of communication system with SCADA, WAMS, VCS, AMR, EPABX, Tele-protection system.

� NLDC to submit Guidelines for Interfacing Requirement, calculation of availability of Communications systems etc. to the Commission for approval within 60 days of notification of the Regulations after seeking public comments.

More information: www.cercind.gov.in

Japan mulls introduction of clean energy power exchange

Japan envisages introducing a new renewables-focused power exchange as early as 2018 to allow customers to cherry-pick the energy they purchase and enable them to advertise their clean energy credentials.

The immediate benefits of such a power exchange to solar projects are twofold: enabling corporations to meet the growing demand for clean power, and allowing solar producers to find willing buyers outside Japan.

INTERNATIONAl NEWSAccording to Bloomberg New Energy Finance (BNEF), the exchange could be hosted on the Japan Electric Power Exchange (JPEX) or other such platform.

Currently, if a corporate consumer from Tokyo region wants to sign a PPA for a solar project in the region of Tohoku, they have to sign contracts for physical delivery of power, ie, network charges in the region managed by Tohoku Electric, as well as negotiate with Tokyo’s TEPCO for the delivery of power in their inter-regional transmission link dispatch schedule. Hence, these regulatory barriers would have to be altered to make the introduction of a renewable power exchange worthwhile.

www.iexindia.com | 03

MARkET INSIGHTS

IEX in association with GIZ, Germany successfully conducted the six day study tour on ‘Power Markets and RE Grid Integration’ in Germany. The training program was held from 25-30 September in Berlin and Leipzig. The tour witnessed diversified participation from various market stakeholders including generators, utilities, regulators, power traders from India and GCCIA (Gulf Interconnection Authority). The main focus of the study tour was on the integration of Renewables into the Grid.

Germany with 30% of its power generation contributed by renewables offered many interesting insights to the participants to learn from and stay abreast of the latest developments in the power sector. This section of the bulletin features key aspects of the Germany and European Power Market in the coming months.

A snapshot and summary of the training program encapsulated in this section:

Introduction to the German Power Market

� Germany has the highest share of renewable power in Europe in terms of installed capacity. It has the third largest amount of installed renewables capacity in the world.

� Germany has introduced a transformative energy transition called the Energiewende, to decarbonise the economy while phasing out nuclear energy by 2022.

� Energiewende calls for significantly improving energy efficiency, increasing the share of electricity generated by renewable resources, and phasing out carbon-intensive and nuclear power plants and how to most effectively utilise cross-border interconnections with bordering EU member states.

IEX Study Tour on Power Markets and RE Grid Integration - Germany: Sept'16

Main Indicators

Total population 80.43 million (2011)

GDP 2.6 trillion EUR (2013)

Average household electricity consumption

3,369 kWh/year (2011)

Gross electricity consumption 576.3TWh (2014)

Installed capacity 192 GW (7/2014)

Peak demand 83.1GW (2013)

04 | www.iexindia.com

Snapshot of Site Visits and Business Meetings during the Study TourThis programme consisted of good mix of class-room sessions and site and business visits. During classroom sessions, detailed presentations were made by German consultant giving overview of German and European markets and sustainable development initiatives taken by DENA. During programme, site and utility visits to TSO (50Hz), Distribution company (Leipzig Stadtwerke), Energy Storage (Younicos), Innovation Centre (Euref Campus) were held.

� Euref Campus: Euref campus is an innovation centre for companies in the fields of energy, sustainability and mobility. It already meets German government´s climate targets for 2050 and is the only centre for innovation and future projects of its kind in Europe. The innovative community of global players, start - ups and research and educational institutions works in close cooperation across a wide range of partnerships to develop intelligent solutions for the city of the future. The participants had an opportunity to experience and learn about various innovative projects in the fields of mobility, energy and green buildings, some of them are mentioned below:

− Electrical car charging and communication device by Ebee: Ebee develops charging infrastructure for the public space for charging of electrical vehicles and communicating with the utility for the charging for the same and adjustments in the electricity bill directly.

Key Market Players

Sector Leading Companies Market Share Total Number of Providers

Transmission Amprion Transnet BW (ENBW)TenneT 50 Hertz Transmission

100% Combined 4

Distribution EnBWE.ONRWEVattenfall

The big 4 distribution companies own and operate a significant portion of the distribution system, though the exact level is not dear.

approximately 890* DSOs, about 700 of which are municipally owned Stadtwerke

Total Generation EnBWE.ONRWEVattenfall

56% installed capacity** (June 2014) ~59 % of electricity generated (2012)***

over 1000 producers (not including individuals)

Retail Suppliers EnBWE.ONRWEVattenfall

45.5% of total electricity offtake (TWh).**** over 900 suppliers

* : Approximate figures

Installed capacity 7/2014 in MW (Total: 192 GW)

83,835

18,673

28,403

28,115

12,06821,206

37,448LigniteNuclearHard CoalGasOther conventionalsSolarWindBiomassHydrpowerOther RES

34,638

6,3833,918 1,447

Total Generation Mix

www.iexindia.com | 05

− Driverless car developed from 3D laser printed material funded by DB (Deutche Bahn, the German Railway Company).

− Micro Smart Grid Demonstration by Schneider Electric (Zeemo Base): The ZeeMo Base creates predictive forecasts based on the relevant data from production and consumption behavior. The aim is to reduce energy use by the public network through predictable energy flows and to increase the proportion of renewable energy. As a recognized research campus of the Federal Government the integration of load management and saving in Micro Smart Grid is being constantly developed.

� 50 Hertz (TSO): 50 Hertz is one of the four transmission system operator in Germany, it ensures supply to 18 million people in Germany. It is also responsible for operation, maintenance and construction of electrical highways (220 kV and 380 kV). Some of the key learnings are:

− The TSO in Germany serves the role of owner of the transmission grid as well as the system operator for maintaining system stability.

− All 4 TSOs have a high level meeting and project group to ensure coordinated functioning.

− TSO have a trading floor and participate on the Exchange to sell Renewable energy (under the mandate by the Govt.) and also for mitigating transmission losses, they buy from the Exchange.

− Even after a robust grid system in place, last year € 900 Million was spent by 50 Hertz for maintenance of grid and placing of phase shift transformers. (More in upcoming issues of the bulletin).

− TSOs have the responsibility to pay for the generation the power plant is unable to sell in case it is not able to connect the generator with the Grid in a stipulated time frame.

06 | www.iexindia.com

− Transmission network development plan is a regulated and consultative process and grid expansion is planned based on expected new generation and demand centres. The budget for development of new lines comes from the Regulator.

− TSO maintain Primary, Secondary and Tertiary reserves to ensure grid stability and manage congestion. The cost for all is approved by the Regulator and passed on as a separate component to the consumers in the electricity bill.

� E2M (Energy to Markets): E2M is the aggregator and trader of electricity and functions as an independent trading company with its office in Leipzig. Its key roles include, direct marketing of electricity from decentralized generation and consumption plants, it operates a virtual power plant of 3200 MW, it provides balancing energy to the TSO and undertakes portfolio management for the small generators and flexible consumers.

� EEX and EPEX Spot: Participants visited the EEX office in Leipzig and were introduced to the Electricity derivatives and Spot markets in Germany and Europe. (More in the upcoming issues of the bulletin).

� Utility in Leipzig: Leipziger Stadtwerke is a municipal utility in Leipzig undertaking the role of Power generation, distribution, load management and dissemination of renewable installation/Generation Scheduling, balancing, energy forecasting, district heating, solar generation and biomass. The company's business activities focus on generating power and heat with modern power- generation plants, providing reliable energy and energy services to customers as well as providing the network infrastructure for supplying electricity, gas and district heating to the city of Leipzig.

� Younicos: Younicos provides battery storage and grid management solutions around the globe. They have developed and installed about 110 MW projects based on battery technologies in USA and Europe. Participants got to visit the technology centre of Younicos where the sodium sulphur, Li-ion and lead batteries are tested and it houses a transmission line simulator which can test the functioning of the system by simulating real life events like a tree-falling on the line or islanding situation or any other event which can impact grid stability.

www.iexindia.com | 07

MARkET NEWS

Rest of India - ` 2.35/unit South (Avg) - ` 2.41/unitNorth (N1/N2) - ` 2.72/unit Punjab - ` 2.73/unit

0.000.501.001.502.002.503.003.504.00

RoI North (N1/N2) Punjab SouthACP in September

Pric

e (`

/kW

h)

01-0

9-20

16

02-0

9-20

16

03-0

9-20

16

04-0

9-20

16

05-0

9-20

16

06-0

9-20

16

07-0

9-20

16

08-0

9-20

16

09-0

9-20

16

10-0

9-20

16

11-0

9-20

16

12-0

9-20

16

13-0

9-20

16

14-0

9-20

16

15-0

9-20

16

16-0

9-20

16

17-0

9-20

16

18-0

9-20

16

19-0

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20-0

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16

22-0

9-20

16

23-0

9-20

16

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9-20

16

25-0

9-20

16

26-0

9-20

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28-0

9-20

16

29-0

9-20

16

30-0

9-20

16

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

NETSep'16 Aug'16 Change (%) Sep'16 Aug'16 Change (%)

North East 96.84 117.64 -18% 242.86 212.51 14% SELLEast 737.07 523.85 41% 761.39 750.56 1% SELLNorth 1817.67 1316.27 38% 1393.59 1521.26 -8% BUYWest 1401.35 1570.10 -11% 2177.90 1632.49 33% SELLSouth 989.21 1102.69 -10% 466.40 513.72 -9% BUY

Power Market Update:September’16The IEX Day-Ahead Market traded 3,630 MUs in September, the highest ever monthly trade since the inception of IEX in 2008. On a daily average basis, 121 MUs were traded, 9% increase over 111 MUs traded last month. The open access consumers accounted for about 60% of volume traded while rest was on account of distribution companies.

With average daily sell bids at 8,719 MW and purchase bids at 6,109 MW, the market remained buyer friendly.

The Market Clearing Price (MCP) for the month was very competitive at ` 2.43 per unit even though overall demand for power was high. On 8th September, highest ever peak demand of 156 GW was recorded in the country. The average Area Clearing Prices (ACP) on the Exchange varied from ` 2.35 to ` 2.73 per unit across regions.

Overall, about 3 MUs were lost due to congestion on a daily average basis. Import of power, especially in the Northern Region remained affected due to constraints on the inter-state transmission network. The Northern import was congested about 40% of the time and Southern import was congested 10% of the time during the month.

The market cleared at single-price on four days - 1st, 3rd, 4th and 12thSeptember, achieving the One Nation, One Grid and One Price aspiration of the Government.

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

� North-East, East and West: ` 2.35 per unit

� North: ` 2.73 per unit

� South: ` 2.41 per unit

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

Participation

1,223 participants traded in the spot market on an average daily basis. The highest participation was on 13 September, 2016 when 1,291 participants traded on the Exchange.

Term-Ahead Market

About 29 MUs were scheduled in September’16 in Intraday, Daily and Day Ahead Contingency contracts.

Volumes

The key highlights of the month are as below:

� Total Sell bids: 6,277 MUs � Total buy bids: 4,398 MUs � Total cleared Volume: 3,630 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 September’16 vis-à-vis August’16:

% of time congestion

N3 ImportE�S W�S W�N E�N0.0%5.0%

10.0%15.0%20.0%25.0%30.0%35.0%

45.0%40.0%

10.1% 10.1%

40.1% 40%

3%

08 | www.iexindia.com

Total number of registered participants 3,328

Obligated Entity 2,465

DISCOMs 34

Open Access Consumers 2,260

Captive Consumer 120

Voluntary 17

Eligible Entity (Private Generators) 846

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

REc MARkET UPDATE: SEPTEMbER’16

Solar Buyer Mix

Captive User

Distribution Licensee

Open Access Consumer

Non Solar Buyer Mix

Captive User

Distribution Licensee

Open Access Consumer

65,984 (72%) 12,143 (80%)

15,012 (17%)

1,568 (11%)

1,415 (9%)

10,359 (11%)

A total of 1.06 lacs RECs were traded in the REC trading session held on 28th September, 2016 at IEX.

The key details of this trading session are as below:

� Non-solar segment: Total Buy bids – 91,355; Total Sell bids - 67,14,750.

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

� Solar segment: Total Buy bids - 15,126; Total Sell bids - 18,81,110.

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.

Over the last 6 months of this fiscal, IEX has traded 11.81 lacs RECs, an increase of over 35% over 8.73 lacs RECs traded in the same period of previous fiscal.

Participants

A total of 1,283 participants traded at IEX with 819 participants in non-solar segment and 464 participants in the solar segment.

Overall, a total of 3,328 participants are registered in the REC segment at IEX. Of this, 846 are Eligible Entities (RE Generators) 2,465 are Obligated Entities (DISCOMs, Open Access Consumers & Captive Generators) and 17 are registered as Voluntary Entities.

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

www.iexindia.com | 09

TRADE INFO: SEPTEMbER’16

MONTHlY PRIcE SNAPSHOT

Minimum MCP Maximum MCP Average MCP

` 2.43/kWh` 4.85/kWh` 1.25/kWh

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

Average Daily

Volume

121 MUs

Unconstrained Volume

3,716

5,161

Cleared Volume

3,630

5,042

PurchaseBids

4,398

6,109

Sell Bids

6,277

8,719

Cumulative Cleared

Volume (MU)

20,197 For FY'17

VOLUME

Average Daily (MW)

TotalVolume (MUs)

Prices (`/kWh)

Area Average Min Max

East, North East and West 2.35 1.10 4.85

North (N1/N2) 2.72 1.10 6.50

North (N3) 2.73 1.10 6.50

South 2.41 1.10 4.85

10 | www.iexindia.com

TERM AHEAD MARkET SNAPSHOT (September’16)

Total Volume (MWh)

Max Price (`/kWh)

Min Price (`/kWh)Contracts

4,950 4.00 2.65Day-Ahead Contingency

- - -Weekly

14,007 4.50 1.99Intraday

9,600 3.50 3.50Daily

RP: Registered Projects

REc MARkET SNAPSHOT

Trade Session on 28th September, 2016

RECPurchase

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

67,14,750 1,50091,355 819Non Solar 91,355

15,126 3,500Solar 15,126 18,81,110 464

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: 4985 MW682

253

7082

2335

1005Registered Projects

1258

1106

760

352

137

433

159

24849 73

104 306

Registered Projects

RP: 4985 MW

www.iexindia.com | 11

PARTIcIPATION SNAPSHOT (as on 31st September, 2016)

Total Registered Participants

4,000+

Open Access Consumers

3,626

Private Generators

363

Highest Participation

1,410, 22nd June'13

Hourly MCP (`/kWh)

Pric

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/kW

h)

Volu

me

(MW

h)

Hours

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

020,00040,00060,00080,000

100,000120,000140,000160,000180,000200,000

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

Hourly MCV (MWh)

Cleared Volume (MWh) MCP N1 S1 W3

Pric

e `/

kWh

Volu

me

MW

h

IEX Price and Volume Trend in September 2016

01-0

9-20

16

02-0

9-20

16

03-0

9-20

16

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9-20

16

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20,000

40,000

60,000

80,000

1,00,000

1,20,000

1,40,000

1,60,000

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1.50

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4.00

Pric

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/kW

h)

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

Price for the Month

September, 2015 September, 2016

3.42

2.35

3.42

2.35

3.43

2.72

3.44

2.73

6.17

2.41

6.18

2.41

3.42

2.35

3.40

2.35

3.68

2.43

East North Punjab South (AP & KN) S2 (TN & KR) West Chhattisgarh MCPNorth-East

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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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|

GlIMPSES OF EVENTS

Rajesh K. Mediratta, Director – BD, IEX (Far Right) at PHD Chamber’s conference on UDAY, 9 Sept’16, New Delhi

Rohit Bajaj, VP-BD, IEX (Far Right, seated) at TECA’s AGM on 17 Sept’16 at Coimbatore

Nitin Sabikhi, Senior Manager – BD, IEX speaking at Regulators & Policymakers Retreat 2016 held in Sept’16 at Goa