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Posted on Nov 21, 09:00PM | IANS
In a bid to improve the power scenario in Uttar Pradesh, the state power corporation Wednesday decided to become member of the Power Exchange India Ltd. (PXIL) and Indian Energy Exchange Ltd. (IEX) for hassle-free energy purchases and supply, an official said.
The decision was approved at the meeting of board of directors of the Uttar Pradesh Power Corporation Ltd (UPPCL) The board was informed that process of acquiring membership of these power exchanges was already underway.
Explaining the advantage of becoming member of power exchanges, principal secretary, Energy and Chairman, UPPCL, Anil K. Gupta said: "In view of the prevailing situation of power demand and need to ensure smooth import of power, now UPPCL will be able to trade energy on daily bidding basis directly from power exchanges in a hassle free manner."
Managing Director, UPPCL, A.P. Mishra informed that till now power from energy exchanges was being purchased as a client member through bidding by agencies.
Now, with UPPCL becoming member of power exchanges, it would be possible to bid and deal directly. At present, around 4 per cent of power is purchased from energy exchanges against a daily average of power availability of 8,424 MW and restricted demand of 8,335 MW.
It was also decided that constitution and functioning of Electricity Service Commission should be streamlined to ensure sufficient man-power required for efficient working of the state's power corporation.