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UPPCL will be able to trade energy on daily bidding basis directly from power exchanges
Uttar Pradesh Power Corporation Limited (UPPCL) on Wednesday decided to become a Trading and Self Clearing Member (TSCM) of Power Exchange India Ltd (PXIL) and Proprietary Member of Indian Energy Exchange Ltd (IEX) to ensure better power availability in the state.
The decision was taken in a board meeting chaired by UPPCL chairman and state infrastructure and industrial development commissioner (IIDC) Anil Kumar Gupta.
The process of acquiring membership of these exchanges was already underway.
On the advantage of becoming member of power exchanges, Gupta, who is also the state principal secretary energy, said it would be beneficial in view of the prevailing situation of power demand and to ensure smooth import of power.
UPPCL will be able to trade energy on daily bidding basis directly from power exchanges. UPPCL managing director A P Mishra said until now power from energy exchanges was being purchased as a client member through bidding by agencies.
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.
In another decision, the UPPCL Board accorded approval to purchase power at 5 paise less than pooled price of previous year from one Mw solar power plant, proposed to be set up at Naini, Allahabad under Renewable Energy Certification (REC) mechanism.
It was also decided that constitution and functioning of Electricity Service Commission would be streamlined to ensure sufficient man-power required for efficient working.