They have to pay fixed charges even when they do not schedule the power. Distribution Companies have tied up long-term PPAs for power supply.
The surplus power portal is a one-of-its-kind initiative, reflecting the ingenuity of the Ministry of Power and the Regulator. Power Secretary Alok Kumar, while citing many benefits of the new market mechanism, clarified that as against some reports, Rs 50 per unit was only a technical cap and the market forces would ensure a much lower rate. Krishan Pal Gurjar, Minister of State of Power and Heavy Industries expressed confidence that the new mechanism will ensure adequate availability of power. Singh, said in the statement that the HP-DAM was part of the overall strategy to ensure that all available power capacity is utilized for supply to consumers. Similarly, the imported coal-based plants and the Renewable Energy stored in battery-energy storage systems could not be brought into operation, as their generation cost was high, it explained. Because of the high prices of gas in the international market the electricity made by using gas was expensive - more than Rs 12 per unit - and this capacity could not be sold on the market. This move rationalized the price for buyers. The cap was imposed from Apin Day Ahead Market & Real Time Market, and further in all segments from May 6, 2022. Last year the Ministry of Power, after taking note of the fact that on some days the prices in the electricity exchange had gone up to Rs 20, had given directions to the CERC to put a price cap of Rs 12 on the exchange, so that there is no profiteering, it explained. Singh launched the portal at a virtual function in New Delhi on Thursday in presence of over 200 stakeholders from state governments and the power sector, the ministry said.
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