PTC emerges winner in first e-bidding for short-term power

The state-owned firm will supply power to Uttarakhand and Kerala during the summer months

In the newly-launched initiative of the ministry of power which mandates e-bidding for short-term power, PTC India Ltd emerged as the successful bidder to supply power to Uttarakhand and Kerala during peak summer months.

The bidding, which was held on the 'DEEP e-bidding portal' of the power ministry, saw the maximum number of bids at competitive rates to sell power to state utilities in Uttarakhand and Kerala. PTC India offered a total of nine bids from different sources to Uttarakhand and three bids to Kerala.

DEEP e-bidding portal was launched in April 2016 to provide a single platform to all power discoms willing to procure power on 'Short-Term Open Access' contracts through electronic competitive bidding and an electronic Reverse Auction thereafter.

The e-bidding ensures the discovered rates are available in public domain.

In a public statement, PTC said that as it is the sole successful bidder in the Kerala tender, it will supply the entire quantum requisitioned by the Kerala State Electricity Board, which is 100 Mw Peak and 50 Mw day power to the state during the month of May 2016.

The company will also supply evening peak power during July 2016 and August 2016 to Uttarakhand, and additional 150 Mw round-the-clock power throughout July.

"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, CMD, PTC India.