April 06, 2016

First ever trade in Un-Requisitioned Surplus power at IEX

Press Release

For the first time, Un-Requisitioned Surplus (URS) power of 99 MWh (33 MW for three hours) was traded in the Intraday market at IEX by ONGC Tripura Power Company Ltd. (OTPC) - a Central Generating Station (CGS).

The CGS is scheduled on a day-ahead basis. Usually, generating stations offering cheaper power are fully scheduled by States. In case the State does not wish to utilize the power, it remains unsold. To further facilitate utilization of this power, the Ministry of Power in its recent amendment of the National Tariff Policy 2016, incorporated enabling provisions to allow CGS trade its URS power.

Going forward, other Central Generating stations like NTPC, NHPC, NLC, etc. will participate in the market to sell their unrequisitioned surplus, creating a new opportunity for the markets. It may be noted that NHPC is already using the Exchange to sell ‘regulation’ power.