Uttar Pradesh Govt. signed power deal with Ratul Puri’s HPPPL and a few more

The Board of Directors of these powers plants is glad to be a part of UP Government’s plan, like BOD of Hindustan Powerprojects Private Limited, Ratul Puri.The ruling government in the state of Uttar Pradesh signed a power deal with power giants like Ratul Puri’s HPPPL along with a few more, at the rate of Rs 5.1 per unit, which will cater the need of electricity in the state. As a result of an increase in electricity price, this 5000 Mw power purchase agreement was executed, to felicitate the facility of electricity throughout the state.
When the power prices in the spot market have touched a new low of Rs 2.5 a unit, the UP Government decided to sign the PPA with power producer and service provider. The average spot price was Rs 2.73 a unit in October 2015 which dropped to Rs 1.9 a unit in November.
The giant power plants with whom UP Government signed the PPA include Bajaj Hindustan with Rs 4.71 a unit, Harduaganj with Rs 5.1 per unit and Hindustan Power with Rs 4.7 a unit. The Board of Directors of these powers plants is glad to be a part of UP Government’s plan, like BOD of Hindustan Powerprojects Private Limited, Ratul Puri.
Sources in the UP state power department said the Indian Energy Exchange (IEX) had approached the state to procure power from the spot market. IEX officials, however, said the power price at the exchange has remained close to Rs 2-2.5 a unit in the whole year.
Ratul Puri and his Hindustan Powerprojects are glad to be a part of this agreement and Ratul Puri would not mind to explore other power options in the state in future.
UP had a peak power demand of 57,000 Mw during April-October 2015, of which only 8,893 Mw is met. Reeling under power cuts and irregular power supply, it suffered from supply deficit 13 per cent during the same period – one of the highest in the country – according to data with Central Electricity Authority.
In the state Budget for 2015-16, UP chief minister Akhilesh Yadav had promised 22 hours power supply to rural areas and 24 hours in urban areas by 2016. He had also promised to increase power supply to 21,000 Mw from 10,000 Mw. Elections to the UP Assembly are due in 2017.

User Ratings

Tags

You may also like...

  • Harshita Gupta

    This is really a good decision by UP government and i think this will lead to a developed UP as electricity being available in each and every house in itself is an achievement.

  • Pingback: Uttar Pradesh Govt. signed power deal with Ratu...()

  • savita

    I am really happy with the decision of Government of Uttar Pradesh as they have signed a power deal with Ratul Puri’s HPPPL.

  • Parag

    As we all know that the UP state is suffering from this electricity problem for so long now. And this power cut issue will get increased day by day but now UP Government has solved this problem by dealing with Ratul puri’s HPPPL which surely help in this issue.

  • rohan

    Government has take the decision that they will provide 22 hours power supply to rural areas and 24 hours in urban areas by 2016. So I think this will help most of the people who are facing this problem till now.

  • naveen

    In my point of view I think HPPPL’s are the only one who have the potential to resolve this problem with som much benefits. As they have signed this deal with a very low price rate so that UP citizens does not have to worry about the billing issue.