The Central Government has launched a High Price Day Ahead Market and Surplus Power Portal (PUShP) - an initiative to ensure greater availability of power during the peak demand season. Last year the Ministry of Power after taking note of the fact that on some days the prices in the electricity exchange had gone upto Rs.20, had given directions to the CERC to put a price cap of Rs.12 on the exchange, so that there is no profiteering. The cap was imposed from 01.04.2022 in Day Ahead Market & Real Time Market, and further in all segments from 06.05.2022. This move rationalized the price for buyers. Because of the high prices of gas in the international market; the electricity made by using gas was expensive - more than Rs.12 per unit - and this capacity could not be sold on the market. Similarly, the imported coal-based plants and the Renewable Energy stored in battery-energy storage systems could not be brought into operation, as their generation cost was high. This year it is expected that the demand will be much higher than last year therefore, the gas-based plants and the imported coal-based plants will need to be scheduled - and that is why a separate segment has been carved out for those generation systems where the cost of generating power - from gas / imported coal / RE plus storage - may cross Rs.12.
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