Mr. KAUSHIK DEY
Description
the study attempts to find an association amongst the 3 variables namely the Day-ahead Market Clearing price of electricity, Non-Solar Renewable Energy Certificate cleared price, and the Coal price in India. The three variables considered in the study are as follows: 1. Day-ahead Market Clearing price of electricity denoted as (PX)- is measured in INR/MWh and the figures considered are the monthly average of the daily Day-ahead Market Clearing price of electricity. The daily market-clearing price of electricity at the Indian Energy Exchange (IEX) represents the average of all the 96 time-block9 market-clearing prices of electricity. 2. Non-Solar Renewable Energy Certificate cleared price (INR/REC) denoted as (RECNSLR)- is measured as the cleared price of Non-solar REC certificates for the traded month at IEX. 3. Coal price (COAL): The coal price is measured in Indian Rupee per metric tonne. The data is taken from the website: indexmundi.com Note: the data of Non-Solar REC cleared price was not available during the period May-June 2017 due to suspension of REC trading by the CERC in line with the stay order from the Supreme Court of India. The average of the REC price in the month of April and July, 2017 was taken and used for the Month of May and June 2017 for data analysis
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Data of Day-ahead Market Clearing price of electricity and Non-Solar Renewable Energy Certificate cleared price were taken from the websites of Indian energy exchange and Coal price data taken from indexmundi.com