Trading Through Power Exchange
Eligibility for Trading
>>Intended buyers & sellers shall have to go through an entity who has been admitted by Power Exchange as a registered member, by becomin their client.
>>Installation of Special Energy Meters & other Auxiliary Equipments as directed by SLDC, which records flow of Energy, Demand, Voltage, Reactive energy, Average frequency at Fifteen Minute time blocks.
>>Client Registration, and deposit of Annual non refundable Subscription Fee of Rs. One Lakh Only. [Plus Service Tax @ 12.36%, as per G.O.I, Ministry of Finance (Department of Revenue) Notification No: 24/2010- Service Tax dated 22.06.2010]
>>Signing of Memorandum of Understanding (MOU) between Member and Client, Member-Client Agreement and Risk Disclosure Document.
>>NOC/ Standing Clearance from respective SLDC in prescribed format.
>>Deposit of margin money (for buyers only).
Flow of Power
>>>The power will flow through the existing STU/CTU network depending on the location of the entity's injection / drawl point.
Modes of Trading
>>Day Ahead Market (DAM).
>>Term Ahead Market (TAM).
Scheduling of Power
>>The National Load Dispatch Centre (NLDC), Regional Load Dispatch Centre (RLDC) & State Load Dispatch centre (SLDC) schedules, controls and Regulates the power flow for DAM.
>>The Nodal RLDC Schedules the power for TAM.
Delivery of Power
>>The Exchange prepares the schedule based on the ATC, MCP & MCV. The Final Schedule is given by the Power Exchange to the NLDC who in turn sends it to respective RLDC's. The RLDC's incorporates the IEX schedule in their schedule and sends the same to respective SLDC. SLDC delivers the schedule to concerned buyers or sellers. Once the schedule is delivered, it is deemed that power has been delivered.
>>The actual injection/ drawl are recorded by the Special Energy Meters installed at the point of injection / drawl. The meter reading is collected through telemeter or by joint inspection.
>>The Nodal RLDC prepares the schedule based on the application sent by IEX along with SLDC clearance received from both buyer and seller, and sends the same to SLDC of Buyer State, RLDC of Seller region and intervening RLDC's (if any). The RLDC of seller region incorporates the Nodal RLDC's schedule in their schedule and sends it to seller's state SLDC. Once the schedule is delivered, it is deemed that the power has been delivered.
The actual injection/ drawl are recorded by the Special Energy Meters installed at the point of injection / drawl. The meter reading is collected through telemeter or by joint inspection.
Settlement of deviation from Schedule
Any deviation from the schedule is either payable/receivable by the client and is settled by the RLDC/SLDC under the Unscheduled Interchange (UI) mechanism on weekly basis based on telemeter data / joint meter reading. UI settlement is compiled by RLDC and sent to SLDC's after approval of Regional Power Committee (RPC).