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TRANSCRIPT
N E W S A N D I N F O R M A T I O NIEX Bulletin
SEPTEMBER'16 ISSUE 9 | VOlUME 3
www.iexindia.com | 01
In thIs Issue...
PAGE REGUlATORY NEWS
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01 HERC issues Tariff Order for FY’17
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01 RERC determines Additional Surcharge (AS)
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02 PSERC determines Additional Surcharge (AS)
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02 Rajasthan Discoms file Petition in RERC for determination of CSS for FY’17
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03 Ministry of Power launches ‘TARANG’ Mobile App & Web Portal
PAGE INTERNATIONAl NEWS
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03 EEX to commence trading in wind power futures
PAGE MARkET INSIGHTS
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04 Cross Subsidy Surcharge–Impediments & Way Forward
PAGE MARkET NEWS
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06 Power Market Update: August’16
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07 REC Market Update: August’16
PAGE TRADE INFO
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08 Trade Data: August’16
REGUlATORY NEWS
HERC issues Tariff Order for FY’17
HERC has issued Tariff Order for FY 2016-17 for UHBVNL and DHBVNL to be applicable from 1st August, 2016. The key highlights of the tariff order are as below:
Fixed charges reduced from � ` 200/kVA to ` 190/kVA.
All other tariffs/charges (645 Paisa per kVAh) remain un-changed. �
Open access charges have increased from � ` 2.98 to ` 3.48 per unit, an increase of 50 paise/kWh over 2015-16. Breakup of open access charges therein viz-a-viz last year is as below:
Renewable Purchase Obligation for FY’17: �
Shortfall in meeting RPO (MUs): �
The Order directs Discoms to purchase renewable energy/ RECs to �meet RPO targets set for FY’17 along with making up for the shortfall for previous years on actual basis.
The Order makes provision of � ` 1,100 crores for FY’16 towards meeting RPO/ purchase of RECs.
More information: www.herc.gov.in
Charges (`/kWh) FY 15-16 FY 16-17 Change (`/kWh)
Wheeling charges 0.85 0.71 -0.14
Cross subsidy surcharge 0.93 1.57 0.64
Transmission Charges 0.36 0.33 -0.03
Additional Surcharge 0.84 0.87 0.03
Total 2.98 3.48 0.50
Energy Consumption for 2016-17 (MU)
% age of Non solar RPO of energy
Consumption
Non solar RPO (MU)
Solar RPO as
% age of energy
sales
Solar RPO (MU)
Total renewable energy required to be purchased
(MU)
46827.56 2.75% 1287.76 1% 468.28 1756.04
Type of RE Source FY 2011-12 FY 2012-13 FY 2013-14 FY 2014-15
FY 2015-16 (up to June
2015)
Solar 0 8.84 32.21 101.74 68.80
Non-Solar 141.43 375.50 828.50 711.74 122.64
Total 141.43 384.34 860.71 813.48 191.44
Total Shortfall up to June, 2015 2391.40
02 | www.iexindia.com
RERC determines Additional Surcharge (AS)
On 24th August, 2016, RERC issued an order for determining AS for open access consumers. The key highlights are as below:
AS of � ` 0.8 per unit to be charged with effect from 1st May, 2016.
RERC AS computation assumes that Open Access scenario in FY’17 will remain same as in FY’16. �
AS recoverable for FY’16 (up to Jan’16) has been spread over the total open access quantum for FY’16. �
Calculation of Additional Surcharge: �
AS arrears from 1st May, 2016 to 30th July, 2016 to be collected in three (3) equal monthly installments. �
More information: www.rerc.rajasthan.gov.in
PSERC determines Additional Surcharge (AS)
On 9th August, 2016, the PSERC issued an order for determining AS to be paid by open access consumers on power purchased by them from 1st April’15 to 30th Sept’15. AS of ` 1.13 per kWh is to be charged from 9th Aug’16 to 30th Sept’16.
More information: www.pserc.nic.in
Rajasthan Discoms file Petition in RERC for determination of CSS for FY’17
The distribution companies in Rajasthan have recently filed a Petition in RERC for determination of Cross Subsidy Surcharge (CSS) for FY 16-17. The Discoms have proposed the following CSS:
Total
Open Access aggregated over each time block
(MW)
Total Open Access (MU)
Back down due to Open Access
aggregated over each time block (MW)
Back down due to Open Access (MU)
Effective Fixed cost
(`/kWh)
Additional Surcharge
(` Cr.)
A B=A/4000 C D=C/4000 E F=D*E
17453580 4363 11407643 2852 1.23 350.76
Additional Surcharge Recoverable per unit considering same open access scenario for the next year (`/kWh) (Total Additional Surcharge/Total Open Access*10) (F*10/8) 0.80
Category Voltage Level
Average Tariff (T) `/kWh
Cost of Power Purchase (C)
`/kWh
System Losses (L)
Wheeling Charges (D)
`/kWh
Per unit cost of carrying
regulatory asset (R) `/kWh
Cross Subsidy Surcharge (as per
NTP formula) `/kWh
A B C D E F G H
Non Domestic Service
11 KV 8.53 4.08 8.80% 0.33 0.8 2.92
33 KV 8.53 4.08 3.80% 0.11 0.8 3.37
132 KV 8.53 4.08 0.00% 0.01 0.8 3.63
Mixed Load
11 KV 6.75 4.08 8.80% 0.33 0.8 1.14
33 KV 6.75 4.08 3.80% 0.11 0.8 1.6
132 KV 6.75 4.08 0.00% 0.01 0.8 1.86
Large Industrial Service
11 KV 7.41 4.08 8.80% 0.33 0.8 1.8
33 KV 7.41 4.08 3.80% 0.11 0.8 2.26
132 KV 7.41 4.08 0.00% 0.01 0.8 2.52
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The Discoms have also requested the Commission to pass an interim order authorizing levy and collection of Cross Subsidy Surcharge at 20% of the tariff applicable to the relevant categories.
More information: www.rerc.rajasthan.gov.in
Ministry of Power launches ‘TARANG’ Mobile App & Web Portal
Shri Piyush Goyal, Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines opened a new chapter to enhance transparency in power transmission sector by launching the ‘TARANG’ Mobile App, developed by Rural Electrification Corporation Transmission Projects Company Limited (RECTPCL), a subsidiary of REC Ltd, in New Delhi on 17th August, 2016.
With perspective of good governance and keeping in line with the “Digital India” initiative of Government of India, ‘TARANG’ (Transmission App for Real Time Monitoring & Growth) Mobile App & Web Portal that tracks upcoming transmission projects and monitors the progress of Inter-State & Intra-State transmission systems in the country, being developed through regulated tariff mechanism as well as Tariff Based Competitive Bidding (TBCB) route. It also includes status of stalled/delayed transmission systems which would enable the stakeholders viz. Ministry of Power, State Governments, all private sector transmission developers etc. for expeditious completion of such projects.
Since Green Energy Corridors are an important component of our renewable energy mission, TARANG would also help to monitor and meet our ambitious targets on time. The web portal can be accessed at www.tarang.website.
Besides Tarang, recently the Honorable Minister also unveiled the ‘e-Trans’ web platform for 'e-bidding' and 'e-reverse' auction for Tariff Based Competitive Bidding (TBCB) in transmission projects.
More information: www.pcb.nic.in
EEX to commence trading in wind power futures
The European Energy Exchange (EEX) has announced launch of trading in new Wind Power Futures from 4 October 2016 onwards. Trading participants on EEX Derivatives Market will be able to hedge against volume risks in generation of wind power within the German/Austrian market area.
The Wind Power Future is the second ‘Energiewende’ product to be launched by the exchange and comes in response to the increasing challenges with regards to the energy transition.
In September 2014, EEX had launched trading in Cap Futures, a derivatives market product for hedging against price peaks on the German Intraday Market.
The European Energy Exchange (EEX) is the leading energy exchange in Europe. It develops, operates and connects secure, liquid and transparent markets for energy and commodity products. At EEX, contracts on Power, Coal and Emission Allowances as well as Freight and Agricultural Products are traded or registered for clearing. Alongside EEX, EPEX SPOT, Powernext, Cleartrade Exchange (CLTX), Gaspoint Nordic and Power Exchange Central Europe (PXE) are also part of EEX Group. Clearing and settlement of trading transactions are provided by the clearing house European Commodity Clearing (ECC).
More information: www.eex.com
INTERNATIONAl NEWS
04 | www.iexindia.com
MARkET INSIGHTS
There is a provision in National Electricity Policy (NEP) to safeguard the interest of the DISCOMS by allowing them to recover Cross Subsidy Surcharge (CSS) and Additional surcharge (AS) from the consumers who are opting for open access. However, it also very clearly states that the amount of CSS and AS needs to be calculated in a manner that it should not eliminate competition (open access). The premise is, Discom should be compensated (only if required) and at the same time open access, the spirit of competition (as envisaged in Electricity Act 2003), should be promoted for larger interest of the consumer.
Open access has been the mainstay in Electricity Act 2003, though the potential benefits of open access to the industries has not been realised to its fullest even after a decade. High/unreasonable CSS deprive open access consumer off the cheaper power available in the power market.
Determination of Cross Subsidy SurchargeDistribution companies (Discoms) recovers over-all cost of supply through tariffs for various categories of consumers. The tariffs are structured in such a manner that industrial and commercial consumers subsidizes cost of supply to consumers with low paying capacity such as agricultural and residential, this is termed as cross subsidization. Consequently, cross subsidy surcharge is levied on consumers, switching to alternate supplies under open access, to compensate the host distribution licensee serving such consumers, for loss of the cross-subsidy element built into the tariff of such consumers.
In January 2016, National Tariff Policy 2016 introduced new formula to calculate CSS.
S= T – [C/ (1-L/100) + D+ R]
S � is the surcharge
T � is the tariff payable by the relevant category of consumers, including reflecting the Renewable Purchase Obligation
C � is the per unit weighted average cost of power purchase by the Licensee, including meeting the Renewable Purchase Obligation
D � is the aggregate of transmission, distribution and wheeling charge applicable to the relevant voltage level
l � is the aggregate of transmission, distribution and commercial losses, expressed as a percentage applicable to the relevant voltage level
R � is the per unit cost of carrying regulatory assets
The new tariff policy made major amendments in the formula for calculation of CSS. Earlier CSS was calculated
using the difference between the industrial tariffs and cost of top 5% power purchase, but as per the new formula, the CSS is calculated as the difference between the tariff and the weighted average cost of power, capped at 20% of the tariff.
Though NTP(2016) has given the flexibility to the SERCs to vary the formula taking into consideration the different circumstances, still there is cap (20% of applicable tariff ) on the CSS. The clause from the National Tariff Policy 2016 is reproduced below:
8.5.1
“Above formula may not work for all distribution licensees, particularly for those having power deficit, the State Regulatory Commissions, while keeping the overall objectives of the Electricity Act in view, may review and vary the same taking into consideration the different circumstances prevailing in the area of distribution licensee.
Provided that the surcharge shall not exceed 20% of the tariff applicable to the category of the consumers seeking open access.”
Today, many states continue with the CSS determined as per the old CSS formula, which in many cases are as high as 50% of tariff for the consumer category. CSS has become a major cause of worry for open access consumers. High CSS makes open access unviable for many states. In addition, even after capping the CSS at a ceiling of 20% of the retail tariff, many states have much higher CSS (Figure 1). The regulatory framework clearly highlights the necessity of keeping CSS at a level that facilitates in creating a level playing field for consumer to choose from OA and retail supply.
35%
29%24%
22%19%
Tamil Nadu West Bengal Meghalaya AndhraPradesh
Orissa(SOUTHCO)
*as per prevailing tariff at 33kV; Source: Tariff Orders of States
Figure 1: % of CSS of Retail Tariff
Issues in State’s CSS Calculation Though the formula is clearly stated in the NTP, still there are issues pertaining to CSS in various states. In this section we will try to analyze various aspects, acting as impediments,
Cross Subsidy Surcharge–Impediments & Way Forward
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pertaining to the tariff determination, CSS formula, its actual determination & common misinterpretation.
Tariff ‘T’ should be Average Billing rate (ABR) z
As per NTP, “T” is the tariff payable by the relevant �category of consumers, including reflecting the Renewable Purchase Obligation.
It is important to determine what is the effective �tariff applicable for a category of consumer. The Tariff has two components, viz., Fixed/Demand charge and Energy Charge, and as per APTEL Judgement (A No 181/2015) it is clarified that for the purpose of calculating the cross-subsidy surcharge the ‘T’ is the Average Billing Rate in Rs/kWh terms for the respective category as it reflects the effective combination of fixed/demand and energy charges payable by that category of consumers. The extracts from the APTEL judgements are reproduced below:
Appeal No 181/2015, Judgement dated 26th May 2016 (Byrnihat Industries Association v/s MSERC & MPDCL)Para 12 (iv)“It is the settled law of this Tribunal that the CSS under the National Tariff Policy Formula has to be computed on the basis of "T" being the Average Billing Rate for the category of consumers.”
Appeal No 178/2011, Judgement dated 2nd December 2013(Reliance Infrastructure Limited v/s MERC & others)
Para 8“ …Mathematically, it can be represented as: ABR of a category of a consumer=Total expected revenue from a category/ Total sale of power to that category.”
Tariff ‘T’ should exclude Demand Charges for z
Partial OA consumers There is an issue when it comes to consumer opting �for partial open access. In case of partial open access the consumer maintain the contract demand with the Discom and hence pays the fixed charges for it. However, CSS determined for its category also has the component of Fixed Charge covered in “T”. Technically there is a dual accounting of fixed charges. SERCs should consider adjusting the fixed charges paid by such consumer while calculating T (Average Billing Rate).
Increase in CSS z
With the ceiling for CSS at 20% of the tariff in NTP �2016, many Discom interpret it as a norm and are making moves to increase CSS to a level of 20% of the tariff. However, this interpretation is contrary to the EA 2003 which stipulates the progressive reduction of cross subsidies. That is, CSS level determined for a year cannot be increased from CSS level determined
in the preceding year. The clause from the EA 2003 is extracted below:
42.2 of EA ,2003“…..Provided also that such surcharge and cross subsidies shall be progressively reduced in the manner as may be specified by the State Commission”
Assuming lower load Factor increases “T” and z
consequently “S”Industry on an average have a higher load factor �however if a Discom, while determining “T”, assumes lower load factor than the effective “T” will be higher and in a way artificially inflate the Cross Subsidy Surcharge. By using ABR this issue can be addressed as it reflect the actual load factor of that category.
CSS should be made effective prospectively z
from the date of notification buy SERC and not retrospectively.
Way forwardThe progressive reduction of CSS levels is key factor to facilitate competition in power sector as embedded in the provisions of regulatory framework. It is also imperative for the Discoms that the cross subsidy is calculated transparently in such a way that it is reflective of true difference in cost of supply for different consumer category. There is also a need to place checks where CSS acts as barrier in facilitation of open access in State.
The Open Access charges should be tested with the following rationale:
Average Cost of Power Purchase (APPC)
Open Access ChargesPoC charge �STU Charge �Wheeling Charge � Cross Subsidy Surcharge �Additional Surcharge �Other Charges �
Average Billing Rate (ABR)
+
In other words, it should be viable for Open Access Consumer to buy power from the market, when market prices are lower than the APPC.In many states like Tamil Nadu, West Bengal, Andhra Pradesh etc; there is a need to re-determine the CSS in a transparent manner as per new NTP formula and all efforts to be made to progressively reduce it and ensure it does not kill the competition in power sector, which is the spirit of electricity Act 2003. Another aspect that needs to be examined is that direct subsidy can be a better way to support the poorer categories of consumers than the mechanism of cross-subsidizing the tariff across the board. Subsidies should be targeted effectively and in transparent manner.
=
06 | www.iexindia.com
Power Market Update: August’16Continuing the trend from last month, the IEX spot power market traded at average Market Clearing Price (MCP) of ` 2.17 per unit in August, 2016. The average Area Clearing Price (ACP) varied from ` 2.1 per unit to ` 2.4 per unit, following the prices in last month. In August, the Spot Power Market set a new record of highest ever daily trade of 143 MUs on 26th August, 2016. On an average, 111 MUs were traded on a daily basis and a total of 3,445 MUs were traded in the month. Average daily sell bids were 8,904 MW and average daily buy bids were 5,518 MW. Last month, average daily purchase bids of 5,360 MW and sell bids of 9,061 MW were received.As regards transmission congestion in the Inter-State corridors, import of power in Punjab and Southern States remained affected. About 4 MUs were lost due to congestion on a daily average basis.On 30th and 31st August, 2016, the market cleared at single-price achieving the aspiration of One Nation, One Grid and One Price.
PricesThe average Area Clearing Prices across States remained at par with the ACP in last month:
ACP in North-East, East and West: � ` 2.1 per unit. ACP in North: � ` 2.13 per unit.ACP in South: � ` 2.4 per unit.
The graphical depiction of average ACP in August is as below:
CongestionAbout 118 MUs were lost due to transmission congestion in August, as compared to 68 MUs lost in the previous month.
ER->SR and WR->SR interconnections were �congested 34% of the time during the month.ER->NR and WR->NR interconnections remained �congested 7% of the time during the month.
Participation1,267 participants traded in the spot market on an average daily basis. The highest participation was on 9th August, 2016 when 1,380 participants traded on the Exchange.
Term-Ahead MarketAbout 35 MUs were scheduled in August’16 in Intraday, Daily and Day Ahead Contingency contracts which includes participation from Industrial consumer in the market.
VolumesThe key highlights for August’16 are as below:
Total Sell bids: � 6,625 MUs Total buy bids: � 4,105 MUs Total Cleared Volume: � 3,445 MUsSouthern States: � Net SellersNorthern, Western, Eastern & North-Eastern �States: Net Buyers
The table below gives the average daily buy-sell picture at regional level for August’16 vis-à-vis July’16:
MARkET NEWS
% of time congestion
N3 ImportE�S W�S W�N E�N
33.6% 33.6%
6.6% 7%
21%
0.0%5.0%
10.0%15.0%20.0%25.0%30.0%35.0%40.0%
ACP in August
Rest of India - ` 2.08/unitNorth (N1/N2) - ` 2.13/unit
Pric
e (`
/kW
h)
01-0
8-20
16
02-0
8-20
16
03-0
8-20
16
04-0
8-20
16
05-0
8-20
16
06-0
8-20
16
07-0
8-20
16
08-0
8-20
16
09-0
8-20
16
10-0
8-20
16
11-0
8-20
16
12-0
8-20
16
13-0
8-20
16
14-0
8-20
16
15-0
8-20
16
16-0
8-20
16
17-0
8-20
16
18-0
8-20
16
19-0
8-20
16
20-0
8-20
16
21-0
8-20
16
22-0
8-20
16
23-0
8-20
16
24-0
8-20
16
25-0
8-20
16
26-0
8-20
16
27-0
8-20
16
28-0
8-20
16
29-0
8-20
16
30-0
8-20
16
31-0
8-20
16
0.000.501.001.502.002.503.003.504.004.50 RoI North (N1/N2) North (N3) South
South (Avg) - ` 2.39/unit North (N3) - ` 2.33/unit
REGIONAVERAGE DAILY BUY (MW) AVERAGE DAILY SELL (MW)
NETAugust'16 July'16 Change (%) August'16 July'16 Change (%)
North East 117.64 82.16 43% 212.51 387.94 -45% SELLEast 523.85 320.89 63% 750.56 1050.50 -29% SELLNorth 1316.27 1964.67 -33% 1521.26 1304.07 17% SELLWest 1570.10 1421.14 10% 1632.49 1508.43 8% SELLSouth 1102.69 1023.68 8% 513.72 561.60 -9% BUY
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Overall, a total of 3,318 participants are registered in the REC segment at IEX. Of this, 844 are Eligible Entities (RE Generators) 2,457 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 31st August, 2016:
A total of 1.58 lacs RECs were traded in the REC trading session held on 31st August, 2016 at IEX. The number of RECs traded this month is almost at par with the 1.63 lacs RECs traded in July, 2016.
The key details of this trading session are as below:
Non-solar segment: � Total Buy bids - 1,36,352; Total Sell bids - 73,36,837.
All buy bids were cleared at floor price of ` 1,500 per REC.
Solar segment: � Total Buy bids - 21,937; Total Sell bids - 21,92,565.
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.
This financial year from Apr’16 – Aug ‘16, REC trade at IEX is 10,74,973, (Non Solar: 9,53,372, Solar: 1,21,601) which is 50% higher than trade of 716,926 RECs (Non-Solar: 563,472, Solar: 1,53,454) in the same period last year.
Participants
A total of 1,369 participants traded at IEX with 853 participants in non-solar segment and 516 participants in the solar segment.
Total number of registered participants 3,318
Obligated Entity 2,457
DISCOMs 33
Open Access Consumers 2,254
Captive Consumer 120
Voluntary 17
Eligible Entity (Private Generators) 844
Highest participation in a session (March'16) 1,315
REC MARkET UPDATE: AUGUST’16
Solar Buyer Mix
Captive User
Discom
Open Access
Non Solar Buyer Mix
Captive User
Discom
Open Access
70,176 (52%)
30,240 (22%)
6,316 (29%)35,936 (26%)
3,350 (15%)
12,271 (56%)
08 | www.iexindia.com
TRADE INFO: AUGUST’16
MONTHlY PRICE SNAPSHOT
Minimum MCP Maximum MCP Average MCP
` 2.17/kWh` 4.40/kWh` 0.90/kWh
MONTHlY VOlUME SNAPSHOT 1 MU = 1 Million kWh = 1 GWh
Average Daily
Volume
111 MUs
Unconstrained Volume
3,563
4,789
Cleared Volume
3,445
4,631
PurchaseBids
4,105
5,518
Sell Bids
6,625
8,904
Cumulative Cleared
Volume (MU)
16,567 For FY'17
VOLUME
Average Daily (MW)
TotalVolume (MUs)
Prices (`/kWh)
Area Average Min Max
East, North East and West 2.08 0.70 4.40
North (N1/N2) 2.13 0.70 4.40
North (N3) 2.33 0.90 5.05
South 2.39 0.70 5.20
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TERM AHEAD MARkET SNAPSHOT (August’16)
Total Volume (MWh)
Max Price (`/kWh)
Min Price (`/kWh)Contracts
10,018 4.00 2.30Day-Ahead Contingency
- - -Weekly
10,759 4.30 1.50Intraday
14,400 3.50 3.50Daily
RP: Registered Projects
REC MARkET SNAPSHOT
Trade Session on 31st August, 2016
RECPurchase
Bids Sell Bids Cleared (REC) Price (`/REC) Participants
73,36,837 1,500136,352 853Non Solar 136,352
21,937 3,500Solar 21,937 21,92,565 516
1258
1106
760
352
137
383
159
24849
7399308
2285
1005
682
248
7111
Registered Projects Registered Projects
RP: 4932 MW
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: 4932 MW
10 | www.iexindia.com
PARTICIPATION SNAPSHOT (as on 31st August, 2016)
Total Registered Participants
4,000+
Open Access Consumers
3,598
Private Generators
357
Highest Participation
1,410, 22nd June'13
Hourly MCV (MWh) Hourly MCP (`/kWh)
Hours
Average Hourly Market Clearing Volume and Price for the Month
Pric
e (`
/kW
h)
Volu
me
(MW
h)
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
020,00040,00060,00080,000
1,00,0001,20,0001,40,0001,60,0001,80,0002,00,000
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
Cleared Volume (MWh) MCP N1 S1 W3
Pric
e `/
kWh
Volu
me
MW
h
IEX Price and Volume Trend in August 2016
01-0
8-20
16
02-0
8-20
16
03-0
8-20
16
04-0
8-20
16
05-0
8-20
16
06-0
8-20
16
07-0
8-20
16
08-0
8-20
16
09-0
8-20
16
10-0
8-20
16
11-0
8-20
16
12-0
8-20
16
13-0
8-20
16
14-0
8-20
16
15-0
8-20
16
16-0
8-20
16
17-0
8-20
16
18-0
8-20
16
19-0
8-20
16
20-0
8-20
16
21-0
8-20
16
22-0
8-20
16
23-0
8-20
16
24-0
8-20
16
25-0
8-20
16
26-0
8-20
16
27-0
8-20
16
28-0
8-20
16
29-0
8-20
16
31-0
8-20
16
30-0
8-20
16
0
20,000
40,000
60,000
80,000
1,00,000
1,20,000
1,40,000
1,60,000
0.000.501.001.502.002.503.003.504.004.50
Pric
e D
iffer
entia
l (`/
kWh)
E N
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
01-0
8-20
16
02-0
8-20
16
03-0
8-20
16
04-0
8-20
16
05-0
8-20
16
06-0
8-20
16
07-0
8-20
16
08-0
8-20
16
09-0
8-20
16
10-0
8-20
16
11-0
8-20
16
12-0
8-20
16
13-0
8-20
16
14-0
8-20
16
15-0
8-20
16
16-0
8-20
16
17-0
8-20
16
18-0
8-20
16
19-0
8-20
16
20-0
8-20
16
21-0
8-20
16
22-0
8-20
16
23-0
8-20
16
24-0
8-20
16
25-0
8-20
16
26-0
8-20
16
27-0
8-20
16
28-0
8-20
16
29-0
8-20
16
31-0
8-20
16
30-0
8-20
16
CONGESTION PROFIlE (August 2016)
South Import
Pric
e D
iffer
entia
l (`/
kWh)
01-0
8-20
16
02-0
8-20
16
03-0
8-20
16
04-0
8-20
16
05-0
8-20
16
06-0
8-20
16
07-0
8-20
16
08-0
8-20
16
09-0
8-20
16
10-0
8-20
16
11-0
8-20
16
12-0
8-20
16
13-0
8-20
16
14-0
8-20
16
15-0
8-20
16
16-0
8-20
16
17-0
8-20
16
18-0
8-20
16
19-0
8-20
16
20-0
8-20
16
21-0
8-20
16
22-0
8-20
16
23-0
8-20
16
24-0
8-20
16
25-0
8-20
16
26-0
8-20
16
27-0
8-20
16
28-0
8-20
16
29-0
8-20
16
31-0
8-20
16
30-0
8-20
16
1
0
0.2
0.4
0.6
0.8
1.4
1.2
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