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Home News Power Sector News PSEB signs power purchase agreement with Tata Power Trading Corporation

PSEB signs power purchase agreement with Tata Power Trading Corporation

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PSEBThe Punjab state electricity board (PSEB) signed Long Term Power Purchase Agreement (for 30 years) with Tata Power Trading Corporation Limited much below rate that agreement of power with Lanco Infratech for 1,200 MW Rajpura Thermal plant and Sterlite energy of Vedanta group for 1,980-MW Banawali thermal power project in Mansa district .

According to official spokesman as per the Power Sale Agreement, the Levelised Tariff as per Central Electricity Regulatory Commission norms would be Rs.2.14 per unit (at project switchyard) for the first year. Taking into account the fuel price escalation the levelised tariff for 30 years can go up to Rs.2.60 per unit.

When asked why the huge difference of rate the spokesman clarified that Tata Power trading corporation will give us power at their Switchyard in Jharkhand and Transmission charges will be added in it.

Spokesman further added that plants’s first unit of 525MW shall be commissioned in October 2010 and the second unit in March 2011. PSEB would be getting 300MW from this plant through Tata Power Trading Corporation Limited. Board will get 150 MW in October 2010 and remaining in March 2011. He said that He informed that Tata Power Trading Corporation Limited has back to back arrangement with the company for purchase & further sale of power.

HE further informed that Government of India, Ministry of Power has included the project in the list of approved projects under Mega Power Policy which provides for various benefits to the project. He said that under the agreement PSEB shall be entitled to a rebate of 2% on the payment made in full towards any monthly bill within one business day of its presentation.

The Maithon Power Limited, a joint venture of M/s Tata Power Company Ltd. & Damodar Valley Corporation (A Govt. of India undertaking) is setting up 1050MW (2 x 525MW) Pit Head Thermal Power Station named Maithon Right Bank Thermal Power Project located at Maithon in Dhanbad District of Jharkhand State.

Purchase Agreement has been signed by Er.S.C. Sabharwal, Member/Transmission, PSEB with Amulya Charan, Managing Director, Tata Power Trading Corporation Limited. 

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