The Integrated Day Ahead Spot (IDAS) is a Collective
transaction that integrates transaction for Renewable Energy
(RE) alongwith Conventional energy. IDAS offers market
participants to submit Orders together for transacting in RE
and Conventional power in the same bidding window.
The Integrated Day Ahead Spot (IDAS) is a Collective transaction that integrates transaction for Renewable Energy (RE) alongwith Conventional energy. IDAS offers market participants to submit Orders together for transacting in RE and Conventional power in the same bidding window. The matching algorithm discovers separate prices for both RE and Conventional segment thus offering an integrated Contract to the participants.
IDAS enables an integrated transaction in RE and Conventional segment in the most transparent, flexible, competitive and efficient manner. The Exchange will clear transaction in sequential manner – RE Orders will be cleared first followed by merging of uncleared Orders from RE segment with other Orders received in Conventional segment providing oppurtunity for both RE Sellers and a Buyer to transaction power under any segment for the benefit of participants.
Snapshot of IDAM transaction
There are 96 Contracts of 15 minutes duration each for delivery of Renewable and Conventional power separately for next day. Buyers and Sellers get cleared at market cleared price in both segment, which is equal to or better than the price quoted with principal of social welfare maximization and equitable distribution of surplus among buyers and sellers. The Order placement and Price discovery mechanism is neutral and transparent, conducted under strict surveillance, allowing for anonymity of bids and eliminating individual credit risk.
Contract structure
The market structure proposed for operating Integrated DAM is:
Orders for RE and Conventional power to be placed during the same auction session
Matching of Order for transactions in RE in first matching
Uncleared Order from RE segment to be merged with Orders received in Conventional segment
Exchange to submit single application to NLDC for scheduling RE and Conventional power
Buyer to receive RPO credit for RE energy procured in the RE session
RE Sellers cleared in second matching eligible to receive RECs
Benefits of
trading at PXIL
Provide another option to RE generators to sell power
Enables Discoms to sell surplus renewable power injected in its network
Obligated entities like Distribution licensee, Open Access consumers and Captive power consumers are able to meet RPO target by purchasing RE power throughout the year
Reduces curtailment of RE power, unlocking untapped RE potential
Ensures prompt payment to RE generator
Mitigates price risk of Discoms in purchasing power under long term PPA
Enables portfolio optimisation for Discoms
Provides price signal for capacity addition in RE segment for building a sustainable and energy efficient economy
For Contract Specification
Refer Annexure IA of the Business Rules for the Physical
Market Segment
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