New Delhi: Union Power Minister R K Singh on Thursday launched a portal to ensure greater availability of power during the peak demand season at a price higher than the ceiling of Rs 12 per unit by a certain category of sellers.
The government has launched a High Price Day Ahead Market (HP-DAM) and Surplus Power Portal (PUShP), a power ministry statement said.
Ministry said this move rationalised 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, or RE plus storage – may cross Rs 12, the ministry added.
After noting on some days the prices in the electricity exchange had gone up to Rs 20, the Ministry of Power last year had given directions to the CERC to put a price cap of Rs12 on the exchange so that there is no profiteering. The cap was imposed from April 1, 2022, in Day Ahead Market and Real-Time Market, and further in all segments from May 6, 2022.
