State owned bulk power purchaser, Gridco Ltd has raked in Rs 685 crore from export of surplus power in 2014-15.
“Our earnings were from power traded on the energy exchanges, power sold through bilateral contracts and unscheduled interchange. In the current fiscal, the state power regulator Odisha Electricity Regulatory Commission (OERC) has assigned us a target of Rs 885 crore from power trading,” said Gridco’s chairman cum managing director Hemant Sharma.
Amid a comfortable situation in power availability, Odisha is presently trading 90-100 Mw of surplus power every day.
Gridco mostly sells power through bilateral agreements, which are long term power supply commitments rather than trading surplus power on the exchanges where there are frequent price fluctuations.
Under bilateral power trading, the buyer and seller typically negotiate a set of terms and conditions that form the basis of trade between them. After the agreement is finalised, electricity trading can commence. The contract between the two parties specify the price and amount of electricity to be traded.
Currently, Odisha’s off peak power demand is 2,900 Mw against which the generation is 2,947 Mw. Similarly, peak power requirement is pegged at around 3,500 Mw which the state caters to by scaling up hydro power generation. Hydro power generation is raised to 891 Mw to meet peak power demand compared to 409 Mw in off-peak time. There are seven hydro power stations – Burla, Chipilima, Balimela, Rengali, Upper Kolab, Upper Indravati and Machhkund.
The state has an installed capacity of 5,437 Mw. This includes 2,085 Mw hydro power, 460 Mw from Talcher Thermal Power Station (TTPS) of NTPC Ltd, 420 Mw at Ib valley station of state owned Odisha Power Generation Corporation (OPGC), 1,115 Mw generated by the commissioned plants of Independent Power Producers (IPPs) and 1,300 Mw as state’s share from the central sector projects. Captive generating plants (CGPs) are supplying 400-500 Mw power to the state grid depending on demand. Besides, small hydro-electric power projects are generating 57 Mw.
Among the IPPs, Sterlite Energy, GMR Kamalanga Energy and Jindal India Thermal Power Ltd (JITPL) are injecting 768 Mw, 263 Mw and 84 Mw respectively to the state grid. While Sterlite Energy has fully commissioned its 2,400 Mw coal-based thermal power plant at Bhurkamunda near Jharsuguda, GMR Kamalanga has put on stream three 350 Mw units (1,050 Mw) at Kamalanga in Dhenkanal district. JITPL has operationalised 600 Mw unit of its proposed 1800 Mw plant, at Derang near Angul.