The government will kick-start short-term power procurement through e-auction on Friday with nine biddings for Uttarakhand, a person close to the development has told ET. The state has sought 100-200MW short-term power for July, August and September.
Power procurement ranging from a day to a year is considered short term. “This auction will set the tone for further e-auctions. It will give us a sense of how things are going to work,” the person quoted above said requesting anonymity. Soon after the launch of the e-auction portal last month, bidders including power generators, traders and even distribution companies with surplus power had registered to take part in the bidding. “The bidding will be done in two rounds. In the first round, bidders will quote the price and the lowest price will be visible to all bidders. In the second round, the lowest bidders will participate in the reverse auction,” the person said.