To meet the summer power need of the state, Grid Corporation of Orissa (Gridco) has finalised agreements with the central electricity grid network Power Grid Corporation of India Ltd (PGCIL), which will provide 200 Mw energy from West Bengal State Electricity Distribution Company Ltd (WBSEDCL) for a month starting April 1.
As per the power banking agreement, Gridco will return five per cent more power between August and September this year to PGCIL, which in turn will pay the power cost to WBSEDCL.
All these power transactions would be carried out by open access norms.
If Gridco fails to return the required amount of power, then it will have to pay the equivalent amount of money, which will be billed at Rs 4.75 per unit. In case, the central grid expresses its inability to provide power to Gridco, then it will pay Gridco at Rs 2.25 per unit.
Orissa has been grappling with power shortages since November 2011, with few state and private thermal power stations halting operation due to technical problems. Currently, Gridco gets about 2,300 Mw power from its hydro and thermal stations, private power generators and from its share out of central government sponsored power stations.