PTC to conduct second round of power procurement, seeks partners for PEL

At a time when demand concerns have dogged the power sector, Power Trading Corporation is playing the role of an aggregator and has successfully completed bidding for 1,900 Mw of short-term power contracts. Simultaneously, it is looking for a second tranche of power procurement and is also planning to go the whole hog into trading through power exchange in a tie-up with ICICI and Bombay Stock Exchange.

Tamil Nadu, Telangana, Haryana, Punjab, Jharkhand and Bihar are likely to sign the power sales agreement for the first tranche of 1,900 Mw, for which PTC has aggregated bids. “Through the use of scheduling, we will able to cater to demand of the state without power plant suffering. Within a month, the final PSA should be signed,” PTC chairman and managing director Deepak Amitabh said in an interview with Business Standard.

The agreement would be for three years with a composite charge and just one paise fixed charge in the tariff. At 55 per cent plant load factor (PLF), states would be buying power at Rs 4.24 a kilowatt an hour (unit), said Amitabh. Further, every five per cent increase in PLF would get a one per cent discount in tariff under the agreement.