Daily News Wrap-Up: CERC Increases Block Bid Size for Power Generators

The Central Electricity Regulatory Commission has increased the maximum block bid size for all power generators, including those using renewable sources and participating in the day-ahead market of power exchanges, except thermal, to 100 MW. While Indian Energy Exchange and Hindustan Power Exchange had already raised the maximum block bid size to 100 MW, now the Power Exchange India’s maximum bid size also stands at 100 MW from 25 MW.

Telangana State Electricity Regulatory Commission has imposed a penalty of ₹50,000 (~$599) on Southern Power Distribution Company of Telangana for failing to comply with a previous order mandating the settlement of unpaid energy bills and Late Payment Surcharges. TGSPDCL had also not complied with the directions to open an irrevocable revolving Letter of Credit as per their Power Purchase Agreement with Polepally Solar Parks, the petitioner in the case.

NHPC has invited bids to select developers to set up 1.2 GW interstate transmission system ISTS-connected solar power projects anywhere in India. The last date for submitting bids is June 29, 2024. Bids will be opened on July 4. The total capacity that can be offered should not surpass 600 MW without the greenshoe option and can go up to 1,200 MW for bidders utilizing the greenshoe option. However, for projects in the north-eastern states and special category areas, the minimum contracted capacity a bidder can offer is 30 MW.

SJVN recorded a total income of ₹5.73 billion (~$68.78 million) during the fourth quarter (Q4) of the financial year (FY) 2023-24, a year-over-year (YoY) decrease of 2% from ₹5.83 billion (~$69.98 million). The company recorded a net profit of ₹610.8 million (~$7.33 million) during Q4 FY24, a 255% YoY increase from ₹172.1 million (~$2.06 million). SJVN generated 8131.38 million units (MU) of hydropower in 2024 compared to 9130.45 MU a year ago.

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