MINUTES OF THE 41st MEETING OF THE MARKET SURVEILLANCE

COMMITTEE OF POWER EXCHANGE INDIA LIMITED HELD ON MONDAY,

25TH JANUARY, 2021, AT 11.00 A.M. THROUGH VIDEO CONFERENCING

Members Present in person:

Mr. Vijay Kumar Aggarwal Chairman

Mr. Prabhajit Kumar Sarkar Member
Mr. Chandrashekhar Bhat Member

In attendance:

Mr. Sunil Hingwani Company Secretary, PXIL

Mr. Vijay Kumar Aggarwal chaired the meeting. The roll call was made by the
Chairman wherein every member attending the meeting confirmed their presence
and receipt of agenda papers.

Quorum being present, the meeting preceded with the agenda items:

PXIL/MSC/2020-21/1A Leave of absence

Since all the members were present, there was no necessity to grant leave of absence .

PXIL/MSC/2020-21/1B Noting of Minutes of Meeting held on 23 rd

October, 2020

Minutes of the meeting of the 40th Market Surveillance Committee held on 23 rd October,
2020 were confirmed.

PXIL/MSC/2020-21/2 Consider and approve Market Surveillance

Report for the quarter ended 31 st December,
2020

The Committee took note of the Market Surveillance Report for the quarter ended 31 st
December, 2020 as per the agenda circulated.

The Committee discussed and noted the following points:

 There were no instances of Open position in Term Ahead Market (‘TAM’) and
opposite open position in Day Ahead Spot (‘DAS’) for the same client, for the same
time duration.

 Standard Deviation for the quarter under discussion, Unconstraint Market Clearing
Price (‘UMCP’) is 7.02 %, higher compared to previous quarter and corresponding
quarter of the previous year.

 Standard Deviation for Region-wise Area Clearing Price (‘ACP’) is at 3.34 %, higher
compared to previous quarter and corresponding quarter of the previous year & for
RTM the Standard Deviation for Region-wise Area Clearing Price (‘ACP’) is at 0.00
% for this quarter.

 The Committee discussed that Herfindahl-Hirschman Index (‘HHI’) analysis was

done separately for DAS, RTM and TAM products along with DAS, RTM & TAM
together and DAS & TAM together. HHI was Un-concentrated considering DAS,
RTM & TAM together, Un-concentrated for DAS & TAM together and Un-
concentrated for DAS, Highly Concentrated for RTM & Un-concentrated for TAM.
 The Committee noted that HHI is been calculated for each time blocks in 15 Mins
time slot for DAS & RTM and hourly time slot for TAM products.

“RESOLVED THAT the Market Surveillance Report for the quarter ended 31 st
December, 2020 be and is hereby approved and the same be submitted to the Hon’ble
Central Electricity Regulatory Commission (CERC) in accordance with the applicable
provisions of the CERC (Power Market) Regulations 2010.”

The chairman thereafter confirmed the decisions taken with respect to each agenda item
and the same was noted.

Quorum was present throughout the meeting.

Vote of thanks

There being no other business, the meeting ended at 11.25 with a vote of thanks to the
Chair.

Entered in the Minutes Book on 25 th January, 2021 by Mr. Sunil Hingwani, Company
Secretary, PXIL.

DATE:
PLACE: Mumbai CHAIRMAN