CERC has released the analysis of power trading activities performed by the licensed traders for the month of October 2013.
The abstract of the report is presented below:
Summary
- The reported short-term contract volume for October 2013 (analysis of five weeks) is 2262 MUs whereas the same was 1529 MUs for the month of for September 2013 (analysis of four weeks). This is equivalent to about 18% increase in average weekly volume transacted during September.
- 85% of total volume has been contracted at price of more than Rs. 4/ kWh during October as compared to 36% of total volume contracted during September.
- Total number of contracts (including swap & banking) executed during October is 273 by 9 traders whereas in September the number of contracts executed was 180 by 9 traders.
Comparison of Short Term OTC contracts prices with Power Exchange prices (on Contracted Date)
The contracts executed are almost evenly distributed with the maximum number of contracts executed in the first week of the period (refer to annexure I for contracts executed week-wise) and the overall price of OTC contracts executed was in the range of Rs. 2.02/kWh - Rs. 6.66/kWh whereas the prices on the Exchanges varied between Rs. 1.89/kWh - Rs. 3.47/kWh
Forward Curve of Power Prices
A forward curve reflects present day’s expectation of spot prices for a future period. Accordingly forward curves have been drawn based on prices of contracts executed for supply of power for future period. Forward curve have been drawn for November 2013 – May 2014 based on 247 contracts and for comparison forward curve has been drawn for October 2013 – May 2014 based on 168 contracts. (Pl refer the embedded report)
Post-facto Comparison of Prices in OTC Contracts and in Power Exchanges (on Power Delivery Dates)
The post facto graph shows the average OTC price vis-à-vis power exchanges prices for the last month’s power deliveries. Hence this compares the spot Power Exchange prices with OTC deliveries (OTC contracts may have been executed earlier but delivered on the same days as on the exchange spot deliveries). The methodology of calculating the data points of OTC prices is same as in the forward curve. (Pl refer the embedded report)
List of traders who have undertaken contracts in October 2013
| Trader | 30th Sep - 6th Oct | 7th Oct - 13th Oct | 14th Oct - 20th Oct | 21st Oct - 27th Oct | 28th Oct - 3rd Nov | Grand Total |
| PTC India Ltd. | Y(49) | Y(44) | Y(38) | Y(36) | Y(41) | Y(208) |
| NTPC Vidyut Vyapar Nigam Ltd. | Y(11) | Y(4) | Y(7) | Y(8) | Y(6) | Y(36) |
| Tata Power Trading Co. Ltd. | Y(4) | NIL | Y(2) | Y(9) | Y(2) | Y(17) |
| JSW Power Trading Company Ltd. | NIL | Y(2) | NIL | Y(1) | Y(1) | Y(4) |
| Instinct Infra & Power Ltd. | Y(2) | Y(1) | NIL | NIL | NR | Y(3) |
| Mittal Processors (P) Ltd | Y(2) | NIL | NR | NR | NR | Y(2) |
| National Energy Trading & Services Ltd. | NIL | NIL | NIL | NIL | Y(1) | Y(1) |
| Reliance Energy Trading (P) Ltd. | NIL | NIL | NIL | Y(1) | NIL | Y(1) |
| Shree Cement Ltd | NIL | NIL | NIL | Y(1) | NR | Y(1) |
| Grand Total | Y(68) | Y(51) | Y(47) | Y(56) | Y(51) | Y(273) |
Note 1: Y ( ): Contracts had been undertaken (Number of Contracts), NIL: No Contracts was made during the week, NR: Not Reported
*Note 2: This table shows list of traders who have reported & undertaken at least one contract during the reported period. There could be some traders who have reported but did not undertake any contracts.
Complete report is embedded below.
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