Tired of Jharkhand State Electricity Board?s (JSEB) failed assurances regarding uninterrupted power supply to the state?s biggest industrial area in Adityapur, entrepreneurs are now looking forward to agencies like Manikaran Power Ltd (MPL) for meeting their short-term energy needs through the Indian Energy Exchange(IEX).
Manikaran Power Ltd (MPL) is a clearing member of the Indian Energy Exchange (IEX), the country?s first power exchange, which is awaiting the Central Electricity Regulatory Commission?s clearance to become operational.
Once operational, entities like power generators, distributing licensees, independent power producers, captive power producers, merchant power plants, etc., would be able to trade power by using the IEX platform.
To begin with, IEX would offer one-day-ahead hourly electricity contracts (for both buying/selling power, in mega watts) to its clients by way of a bidding process during a 10 am-12 noon bid call period held for the next day.
IEX gradually proposes to offer other products, like week-ahead, month-ahead, quarter-ahead, three-year ahead and seasonal power contracts along with over-the-counter clearing.
Though, as of today, four agencies from the east have become members of IEX, Manikaran Power is the only company that is purely into the business of trading power, its operational jurisdiction being Bihar and Jharkhand.
Explaining the functioning of IEX to members of the Singhbhum Chamber of Commerce & Industry (SCC&I) here recently, Manikaran Power director, N S Kalsi, said only after getting oneself registered by way of payment of Rs 1 lakh could one join the bidding process for drawing power from the exchange.
However, JSEB?s poor transmission infrastructure (which would be used by IEX in delivering power) as well as fears that JSEB may not issue to MPL?s clients the necessary no-objection-certificate for drawing power from the exchange, are some of the issues that are bothering the otherwise eager entrepreneurs here.
Though many entrepreneurs have been looking forward to connecting their units with Jamshedpur Utilities & Services Company (Jusco), the second power licensee for the area, sources said political interference was delaying construction of its network in the industrial area.
?They (the entrepreneurs) are apprehensive as to how the exchange would function and how power would get delivered to their units. We told them let the exchange start and then you would see for yourself,?? said Kalsi, speaking to FE from Ranchi on Tuesday.
He said Usha Martin, which had a wire rod, sponge iron and a power unit here, was going to become MPL?s client as it was interested in both buying and selling power. Kalsi felt once IEX became functional, many doubts would clear.