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SECI’s trading margin of Rs.0.07/kWh has also been approved
The Central Electricity Regulatory Commission (CERC) has approved a petition filed by the Solar Energy Corporation of India (SECI) for approval of power purchase agreement (PPA) tariff and SECI’s trading margin for sale of power from 480 MW grid-connected solar PV projects.
The power will be purchased by Bihar State Power Holding Company Limited, North Bihar Power Distribution Company Limited and South Bihar Power Distribution Company Limited. GRT Jewellers India Pvt. Ltd. had been awarded a capacity of 150 MW at a tariff of Rs.2.53/kWh and SBE Renewable Sixteen Pvt. Ltd. had been awarded 330 MW capacity at a tariff of Rs.2.65/kWh, by SECI.
SECI had submitted that the CERC approve above-mentioned tariffs along with its trading margin of Rs.0.07/kWh which it had mutually agreed on with the distribution companies (DISCOMs) of Bihar.
While going through the submissions made CERC found the tariffs to be competitive. The commission also did not raise any concern regarding SECI’s trading margin. Commission found everything to be complying of the norms regarding the tariff.
But, the CERC raised an objection; “intermediary procurer is required to inform the commission about the initiation of the bidding process. However, SECI did not inform the commission regarding initiation of bidding.”
In its order the CERC specified that since SECI has undertaken that it will forward the intimation regarding bidding initiation, it must comply in the future.
In another decision, the CERC approved the petition filed by Pranurja Solutions Ltd, a company promoted by BSE, PTC Ltd and ICICI Bank, to establish the third power exchange in India after Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL).
Recently, CERC issued a show cause notice to Global Energy Private Limited (GEPL), a category 1 interstate electricity trading license holder, regarding default in payment of fees for two successive financial years.