The Central Government (CG) has recently launched a High Price Day Ahead Market and Surplus Power Portal (PUShP) – an initiative to ensure greater availability of power during the peak demand season. Union Power & NRE Minister R.K. Singh has launched the portal at a virtual function in New Delhi in presence of over 200 stakeholders from state governments and the power sector.
Krishan Pal Gurjar, Minister of State of Power and Heavy Industries, Alok Kumar, Secretary, Ministry of Power, Ghanshyam Prasasd, Chairman, CEA, S. N. Goel, CMD, IEX, S. R. Narsimhan, CMD, Grid India along with many senior officials of Ministry of Power were present on the occasion.
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. The cap was imposed from 01.04.2022 in Day Ahead Market & Real Time Market, and further in all segments from 06.05.2022. This move rationalized the price for buyers. 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. 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.
