Business
Centre Launches 'PUShP' Portal To Ensure Greater Availability Of Electricity During Peak Demand Season
(Representative Image).
The Central Government has launched a High Price Day Ahead Market and Surplus Power Portal (PUShP) to ensure greater availability of power during the peak demand season.
Union Power Minister R K Singh launched the portal at a virtual function in New Delhi on Thursday (9 March) in presence of over 200 stakeholders from state governments and the power sector.
Last year, the Ministry of Power directed the CERC to impose a price cap of Rs 12 on the electricity exchange after noting that prices had gone up to Rs 20 on some days.
The cap was enforced from 1 April 2022 in Day Ahead Market & Real Time Market, and from 6 May 2022 in all segments.
This move rationalised the price for buyers as the high prices of gas in the international market resulted in expensive electricity production using gas, imported coal-based plants, and Renewable Energy stored in battery-energy storage systems, which could not be brought into operation.
This year, the Power Ministry expects that the demand will be much higher than last year. Therefore, a separate segment called HP DAM has been created for those generation systems where the cost of producing power may cross Rs 12. The HP DAM segment will accommodate gas-based and imported coal-based plants.
During the launch, Union Power Minister R K Singh stated that the HP-DAM is part of the overall strategy to ensure that all available power capacity is utilised for supplying power to consumers.
The operation of the HP-DAM ensures that nobody is allowed to charge exorbitant rates. Only those generating capacities with the cost of producing power of more than Rs 12 per unit are allowed to operate in HP-DAM.
If the cost of production is less than Rs 12, the generators will have to offer power in the Power Exchange's Integrated Day Ahead Market (I-DAM) only with a ceiling price of Rs 12.
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