Entrepreneurs of the Adityapur industrial area are looking forward to Manikaran Power Ltd (MPL) for their short-term energy needs after Jharkhand State Electricity Board (JSEB) failed to fulfill their commitments recurrently.
MPL is a clearing member of the Indian Energy Exchange (IEX), the country’s first power exchange waiting for the Central Electricity Regulatory Commission (CERC) clearance to become operational any time now. Once operational, entities such as power generators, distributing licencees, independent power producers (IPPs), captive power producers (CPPs) and merchant power plants (MPPs) will be able to trade power by using the IEX platform.
IEX will, to begin with, offer one-day-ahead hourly electricity contracts to its clients by way of a bidding process. IEX gradually proposes to offer other products like week-ahead, month-ahead, quarter-ahead, 3-year ahead and seasonal power contracts along with OTC clearing.
Explaining the functioning of IEX to the Singhbhum Chamber of Commerce & Industry (SCC&I), MPL director NS Kalsi said one has to pay Rs 1 lakh to get registered for drawing power from the exchange.
However, the entrepreneurs fear that JSEB may not issue the necessary NOC to MPL’s clients for drawing power from the exchange.
Though many entrepreneurs have been looking forward to connect their units with Jamshedpur Utilities & Services Company (Jusco), the second power licencee for the area, sources said political interference has been delaying construction of its network in the industrial area.
