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UI PRICE CURVE : EXISTING AND PROPOSED

UI PRICE CURVE : EXISTING AND PROPOSED. PROPOSED UI CURVE. 100 PAISE PER 0.1 HZ. 60 PAISE PER 0.1 HZ. 20 PAISE PER 0.1 HZ. EXISTING UI CURVE. THE BASIC PREMISE OF UI. HELPING THE GRID GETS REWARDED, HURTING THE GRID IS PENALISED.

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UI PRICE CURVE : EXISTING AND PROPOSED

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  1. UI PRICE CURVE : EXISTING AND PROPOSED PROPOSED UI CURVE 100 PAISE PER 0.1 HZ 60 PAISE PER 0.1 HZ 20 PAISE PER 0.1 HZ EXISTING UI CURVE

  2. THE BASIC PREMISE OF UI HELPING THE GRID GETS REWARDED, HURTING THE GRID IS PENALISED • UI Mechanism presumes constraint-less transmission system and ignores the losses. • UI market of a few crores having 3 to 5% of share regulates the market more than 100 times its size.

  3. THE BASIC PREMISE OF UI HELPING THE GRID GETS REWARDED, HURTING THE GRID IS PENALISED • UI Mechanism presumes constraint-less transmission system and ignores the losses. • UI market of a few crores regulates a market more than 100 times its size.

  4. QUESTIONS • CAN IT BE OPTIMISED FURTHER? • WHAT IS THE FREQUENCY BAND WE WOULD LIKE TO MAINTAIN? • WILL THE NEW VECTOR STILL PRESERVE THE STRONG EQUILIBRIUM? • IS IT KEEPING PACE WITH MARKET MATURITY? • DOES IT ENCOURAGE NEW INVESTMENT? • DOES IT PROVIDE FLEXIBILITY TO THE SYSTEM OPERATOR ? • COULD IT CAUSE FURTHER ECONOMY IN REAL TIME OPERATION ? • SHOULD IT NECESSARILY HAVE TO BE SAME FOR ALL THE REGION (GENERATION COST AND LOAD AND SEASONS ARE DIFFERENT) ? • UI ACTS AS REFERENCE FOR THE PRICE OF BILATERAL TRADE – IS THAT GOOD? • IS THE UI PRICE TOO HIGH OR TOO LOW ? • DOES IT ENCOURAGE OR DOES IT HINDER TRADE?

  5. UI : REFINEMENTS • CHANGE THE SLOPE • CHANGE THE FREQUENCY RANGE • DIFFERENT CURVES FOR BUY/SELL • DIFFERENT CURVES FOR DIFFERENT SEASON • MULTI SLOPE/ KINKS • TIME-OF-DAY ELEMENT

  6. CHANGING THE SLOPE • FREQUENCY WOULD BE IN A TIGHTER RANGE (49.6 TO 50 HZ.) • WOULD HELP FGMO - AS UNITS ON BARS ON FGMO WOULD FACE LESS VARIATIONS. • SCOPE FOR COSTLIER UNITS TO GET DESPATCHED • ARBITRAGE WOULD BECOME DIFFICULT AS PRICE CHANGES WOULD BE RAPID.

  7. CHANGE THE FREQUENCY RANGE • DURING PEAK MONTHS, THE SR FREQUENCY LIES BETWEEN 49.6 HZ. TO 49.0 HZ. MOST OF THE TIME. SQUEEZING THE FREQUENCY RANGE FROM 49.0 HZ. TO 50.5 HZ. TO 49.5 HZ. TO 50.3 HZ. RANGE WOULD HAVE THE FOLLOWING IMPACT: • FREQUENCY VARIATIONS WOULD COME DOWN – GOOD FOR FGMO • EFFECTIVELY CHANGING SLOPE

  8. MULTIPLE SLOPE • PROVIDE ‘KNEE POINT’ WHERE FREQUENCY WOULD PROBABLY CONCENTRATE FOR MOST PERIODS • KNEE POINT CAN BE DECIDED BASED ON GENERATION MIX, SEASONAL PATTERNS • CAN BE USED TO ‘FOCUS’ ON INTER-REGIONAL TRADING – PROMOTE ‘GLOBAL ECONOMY’ • CONCEPT OF SOFT AND HARD RANGE MECHANISM

  9. DIFFERENT CURVES FOR BUYING AND SELLING • TO INSULATE THE TRANSCO FROM LOSSES AND OTHER CHARGES • MAKE THE PROCEDURE SIMPLER • NO POST-FACTO CALCULATION:LOSS IS IN-BUILT • BOTH CURVES CAN BE OFF-SET BY A SMALL AMOUNT, SAY 15-20 PS. • ENABLE CPPS TO OPERATE SEAMLESSLY. • PROVIDES FOR LOSSES – REDUCE POSSIBILITY OF GAMING (CFD-CONTRACT FOR DIFFERENCE) • MECHANISM EXISTS TO TAKE CARE OF DIFFERENCE BETWEEN PAYABLES-RECEIVABLES

  10. SEASONAL UI CURVES • TWO PREDOMINANT SEASONS : RAINY SEASON (JUNE-SEPT.) AND PEAK (OCT. – MAY) • GENERATION MIX SHOULD BE DIFFERENT FOR BOTH THESE SEASONS TO ENABLE OPTIMUM USE OF RUN-OF-THE-RIVER AND SHALLOW STORAGE PLANTS • PRICE SIGNAL SHOULD REFLECT THIS

  11. 3D UI CURVE • ‘TIME-OF-THE-DAY’ ELEMENT IS INTRODUCED • TOD, TFOD,FTOD,FODUI • OVER/UNDER DRAWAL AT DIFFERENT TIME OF THE DAY IS CHARGED DIFFERENTLY • SCOPE FOR MORE REALISTIC DISPATCH • WOULD WORK IN NARROW FREQUENCY BAND • HELPS IN UNIT COMMITMENT • BRINGS MORE CERTAINTY TO UI PRICE • WOULD HELP IN FGMO50.5 • RETAINS ALL GOOD FEATURES OF EXISTING UI RATE

  12. UI RATE 600 500 400 300 50.5 49.6 49.0 3 D UI OF THE FUTURE?

  13. UI PRICE Vs FREQUENCY CURVE 240 PAISE PER 0.1 HZ 140 PAISE PER 0.1 HZ 40 PAISE PER 0.1 HZ 20 PAISE PER 0.1 HZ

  14. UI PRICE Vs FREQUENCY CURVE 200 PAISE PER 0.1 HZ 100 PAISE PER 0.1 HZ 40 PAISE PER 0.1 HZ 20 PAISE PER 0.1 HZ

  15. UI PRICE Vs FREQUENCY CURVE 180 PAISE PER 0.1 HZ 90 PAISE PER 0.1 HZ 40 PAISE PER 0.1 HZ 20 PAISE PER 0.1 HZ

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