PTC India top bidder on DEEP portal for power trading

PTC India today said it has emerged as the most successful bidder on the recently launched e-bidding portal for procuring power and offered maximum bids to Uttarakhand and Kerala state discoms.
"PTC India offered a total of 9 bids from different sources to Uttarakhand and three bids to Kerala on the first ever e-bidding & e-RA (reverse auction) conducted on the new DEEP portal," the company said in a statement.
The Power Ministry has recently launched the DEEP e-bidding portal providing a single platform to all the utilities willing to procure power on Short-Term Open Access contracts through electronic competitive bidding and an electronic Reverse Auction thereafter.

This whole process aims at securing the most competitive power purchase costs to the distribution utilities. The transparency and fairness of the procurement process ensures the discovered rates are available in public domain.
PTC, being the sole successful bidder in Kerala tender, is to supply the entire requisitioned quantum of KSEB i.E. 100 MW Peak & 50 MW Day power to the state during the month of May 2016.
In Uttarakhand, PTC again bagged the contract for more than half of the quantum as awarded by the UPCL. PTC is to supply power to Uttarakhand in evening Peak during July 2016 & August 2016 and additional 150 MW round the clock power for entire July 2016 at highly competitive rates.