 "WBSEDCL saves Rs 88 cr via online power purchase auction")
The benefits of the savings - which occurred as a result of the lowest bid price of sealed bid - will be passed on to the consumers.
"By this process the benefit of saved cost of power will be passed on to the consumer in the form of reduced tariff", the company's chairman and managing director, Narayan Swaroop Nigam said.
The power distribution firm had approached mjunction Services Limited (MSL) to provide an online platform for WBSEDCL to purchase 500 MW of power per month, beginning January next year.
During the e-reverse auction stage conducted on December 18 this year, 548 bids were received from seven selected bidders leading to 12.56% savings over the lowest bid price of the sealed bid stage, the e-auctioner said.
Post the auction, Tata Power, PTC India and Adani Enterprises will be catering to the needs of WBSEDCL.
The power company had a peak load supply shortfall, which it needed to bridge in advance through contracted short term supply of power. The present tender was for 500 MW of power purchase every month.
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WBSEDCL had previously bought 1.9 billion units of power during the fiscal year 2013-14.
"We have built a comprehensive online platform, leveraging the best technology, which is available to power producers, traders and utility companies to finalize the purchase of power efficiently and have great plans to make the platform world class", MCL's chief executive officer and managing director Viresh Oberoi said.