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Power trading body expects 45 percent jump in volume
Thursday, 10 July 2003, 19:30 IST
NEW DELHI: With power plants realising the benefits of delegating the task of selling electricity, the Power Trading Corporation (PTC) expects to handle over 45 percent more volume during 2003-04.
"As against 4,200 million units (Mus) of power traded by us in 2002-03, this year we hope to exceed the target of 6,150 Mus," Tantra Narayan Thakur, the PTC chairman and managing director, told IANS.
"With the new power legislation having removed the hurdle for captive power plants to trade surplus power, we are looking at the possibilities and are in talks with some companies.
"In addition, with companies realising the advantage of having us take over the responsibility of trading, more people are coming to us," he said.
Most states in India are clients of the power trading body.
Although PTC had no case of defaulters, Thakur admitted that the paying ability of state utilities and the fluctuating needs of each client was a problem.
To keep pace with the fluctuating demand, PTC is setting up a control room in the capital "for round-the-clock monitoring and prompt service".
Established a few years ago with equity participation of state-owned power majors, PTC has completed only two years of actual business.
Thakur said conditions for online trading were not conducive.
"We may be able to look at the possibility in future, a few years from now," he said.
PTC is awaiting a proposal from the Nordic Power Exchange, Nord Pool -- the world's first international commodity exchange for electrical power -- for sharing experience and expertise.
"Nord Pool had made a presentation to us some time back and we are now awaiting a firm proposal for a tie-up for sharing of experience," said Thakur.
PTC has been designated the nodal agency for handling exchange of power between India and Nepal.
The company is also trading Bhutan's surplus power, from the 336 MW Chukha and the 60 MW Kurichu projects, since October last year. The volume will increase substantially when the 1,020 MW Tala hydro project gets commissioned in 2005-06.
There was talk of Bangladesh using PTC's expertise in trading power to India but, so far, nothing has happened.
While scouting for surplus power to bridge the gap between supply and demand in power-starved India, PTC is also looking at getting more states into the trading culture "to understand and reap the benefits of trading transactions".
PTC is gearing up to handle larger volumes as India aims at doubling its generation capacity by 2012 -- with the addition of 100,000 MW capacity of which over 40,000 MW is to be created by 2007.
Said Thakur: "While we are not sure how much new capacity would be finally created in the years ahead, we are in the process of reviewing our business plan in order to be prepared to handle larger volumes."
The authorised share capital of the company has been raised from 
1.5 billion to 7.5 billion. PTC's paid-up capital was 725 million by the fiscal year, ending March 31. It is presently 745 million.
The company is considering various options, including a public issue for raising equity, to handle large trading volumes.
Source: IANS
1.5 billion to 7.5 billion. PTC's paid-up capital was 725 million by the fiscal year, ending March 31. It is presently 745 million.
The company is considering various options, including a public issue for raising equity, to handle large trading volumes.
Source: IANS