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India : PTC India Ltd secures first e-bid for short-term power supply

Publish Date : 05-May-2016

PTC India Ltd, a power trading company has emerged as the most successful bidder in the Discovery of Efficient Electricity Price (DEEP) e-bidding for short-term power procurement by electricity distribution utilities held during last week.

In the first such type of bidding to be held following the revision of the guidelines by the Ministry of Power for short-term power procurement effective April 1, PTC India became the sole successful bidder in Keralas tender to supply 100 MW of supply during peak hours and 50 MW during day time in the month of May 2016.

Additionally, PTC has secured the contract for more than half of the quantum offered by Uttarakhand Power Corporation Ltd for supplying 150 MW round the clock during July 2016. Additionally, it will be supplying power to Uttarakhand during the peak hours in July and August.

Without disclosing the price of power supply, the company said it was at competitive rates.

PTC India offered a total of 9 bids from different sources to Uttarakhand and three bids to Kerala on the first ever e-reverse auction conducted on the new DEEP portal, a statement from the company said.

Consumers in the States will benefit from the competitively procured power to be supplied by PTC, especially during the season when the summer heat is at its peak said Deepak Amitabh, Chairman and Managing Director of PTC India Ltd.

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