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MAY 03 2016

PTC India wins bid to supply electricity in first e-bidding

  • Economic Times, ET Bureau / Hyderabad
  • Created: Tue 03rd MAY 2016

Power trading firm PTC India Ltd has emerged as the most successful bidder in the ‘Discovery of Efficient Electricity Price (DEEP)’ e-bidding for short term power procurement by electricity distribution utilities held last week.

 In the first such bidding to be held after the Ministry of Power revised the guidelines for short term power procurement effective April 1, PTC India became the sole successful bidder in Kerala’s tender for supplying 100 MW of supply during peak hours and 50 MW during day time in the month of May 2016.

 PTC also bagged the contract for more than half of the quantum offered by Uttarakhand Power Corporation Ltd to supply 150 MW MW round the clock during July 2016. It also will supply power to Uttarakhand during the peak hours in July and August.

 The company did not disclose the price of power supply and said it was at ‘competitive rates’.

 “PTC India offered a total of 9 bids from different sources to Uttarakhand & 3 bids to Kerala on the first ever e-reverse auction conducted on the new DEEP portal,” a statement from the company said.

 “Consumers in the states will benefit from the competitively procured power to be supplied by PTC, especially during the season when the summer heat is at its peak” said Deepak Amitabh, Chairman and Managing Director of PTC India Limited.

 The DEEP portal was launched in April by Piyush Goyal, Minister of State (Independent Charge) for Power, Coal and New & Renewable Energy. Apart from Kerala and Uttarakhand, two more states — Andhra Pradesh and Bihar — are likely to finalise procurement through the e-reverse auctions soon.

 

Tags

Uttarakhand PTC India Limited TOTAL Bihar Andhra Pradesh Kerala Renewable Energy Coal Energy Ministry of Power Minister of State Power Trading Power Trading Electricity India

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