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| Name | Power Exchange (IEX/ PXIL/ HPX) ... Why & how it works? |
| Video Uploader | Video From Energy Dialogue with Raj Singh Niranjan |
| Upload Date | This Video Uploaded At 05-05-2023 05:30:06 |
| Video Discription | 1. Short title and commencement (1) These regulations may be called the Central Electricity Regulatory Commission (Power Market) Regulations, 2021. (2) These regulations shall come into force from the date to be separately notified by the Commission. 2. Definitions and Interpretation (1) In these regulations, unless the context otherwise requires, (a) “Act” means the Electricity Act, 2003 (36 of 2003); (b) “Ancillary Services” shall have the same meaning as defined in the Grid Code; (c) “Ancillary Services Contract” means a contract for providing Ancillary Services; (d) “Associate” in relation to a Power Exchange or Trader Member or Proprietary Member or Facilitator Member of a Power Exchange, as the case may be, means associate company or related party as defined in sub-sections (6) and (76) of Section 2 of the Companies Act, 2013 (18 of 2013) respectively; (e) “Automated audit trail” means automated creation and maintenance of electronic time-sequenced record of transactions (creation, modification or deletion) in the Power Exchange for reference or audit at a later date or time; Page 2 of 54 (f) “Bid” means the electronic document by which a member of a Power Exchange submits price and quantity in relation to a contract, for which it seeks to make a transaction; (g) “Bid type” means the category of bids with distinct specifications as applicable in relation to each contract to be transacted on a Power Exchange; (h) “Board” means the Board of Directors of a Power Exchange; (i) “Cartelization” means an act by Market Participants who, by agreement amongst themselves, limit or control or attempt to limit or control generation, distribution, sale, price or trade of electricity; (j) “Capacity Contract” means a contract where the capacity of a generating station is contracted in advance wherein the generating station is obligated to despatch contracted electricity as and when required by such buyer during the tenure of the contract and consideration by way of capacity payment is made by the buyer; (k) “Circular Trading” means and relates to trading and transactions by a member or group of members, wherein on one side, one or more entities of the member or group of members enter buy bids and on the other side, one or more entities of the same member or same group of members enter sell bids or vice versa, by design to manipulate the price of electricity or by design to create an artificial market or to defraud or misuse the system; (l) “Clearing” means the process of determination of obligations of members of a Power Exchange resulting from the conclusion of a transaction at the Power Exchange; (m) “Client” means a person who has executed an agreement with a member of a Power Exchange for dealing with or clearing through such member; (n) “Collective Transactions” means a set of transactions executed in the Power Exchange(s) and whose price is discovered through anonymous and simultaneous competitive bidding by buyers and sellers; (o) “Conduct of Business Regulations” means the Central Electricity Regulatory Commission (Conduct of Business) Regulations, 1999, as amended from time to time and any re-enactment thereof; (p) “Contingency Contract” means a contract wherein Continuous Transactions occur on day (T) after the finalization of day ahead transactions and the delivery of electricity is on the next day (T+1); Page 3 of 54 (q) “Continuous Transactions” means a set of transactions executed in the Power Exchange(s), not being Collective Transactions, where the buy bids and the sell bids are matched on a continuous basis with price-time priority; (r) “Contract” means an agreement between seller and buyer for sale and purchase of electricity or Renewable Energy Certificate or Energy Savings Certificate or any other product as may be decided by the Commission; (s) “Day Ahead Contract” means a contract wherein Collective Transactions occur on day (T) and delivery of electricity is on the next day (T+1); (t) “Day Ahead Market (DAM)” means a market where Day Ahead Contracts are transacted on the Power Exchange(s); (u) “Energy Savings Certificates Regulations” means the Central Electricity Regulatory Commission (Terms and Conditions for Dealing in Energy Savings Certificates) Regulations, 2016, as amended from time to time and any reenactment thereof; (v) “Gate closure” refers to the time at which the bidding for a specific delivery period closes and no further bidding or modification of already placed bids can take place for the said delivery period; (w) “Grant of Connectivity Regulations” means the Central Electricity Regulatory Commission (Grant of Connectivity, Long-term Access and Medium-term Open Access in inter-State Transmission and related matters) Regulations, 2009, as amended from time to time and any re-enactment thereof; |
| Category | Education |
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