Leading power companies, which participated in second round of bidding to supply power to Gujarat Urja Vikas Nigam Ltd (GUVNL) on long term basis, have quoted higher prices as compared to first round of bids in 2006.
Four leading power companies, which include Adani Power, Reliance Energy, Essar Power and PTC, had submitted financial bids, which were opened yesterday.
Adani Power has quoted the lowest rate of Rs. 3.25 per unit, followed by Reliance Power with a rate of Rs. 3.42 per unit. Essar and PTC have quoted Rs. 3.43 and Rs. 3.50 per unit respectively.
The prices at which power is to be supplied to GUVNL seem tad higher than the price offered in the first round of power purchase under competitive bidding.
The first round of power purchase had set a benchmark of Rs. 2.89 per unit. However, the companies have offered prices in the range of Rs. 3.25 per unit to Rs. 3.50 per unit in the second round.
Currently, the state owned company is busy evaluating various aspects of the bids but top government officials believe the prices quoted this time to be higher than what they expected.
"It is not compulsory for GUVNL to purchase power at price specified in financial bids. After thorough evaluation of financial bids, the company and the state government will decide the future course of action", said a top official on the condition of anonymity.
Adani has submitted a bid for highest 1,000 mw. Among others, Essar for 600 mw, PTC for 200 mw and Reliance for 100 mw.
GUVNL had invited proposals from power generators, traders and companies in August 2007 to supply 2000 mw of power to the state run company on a long term competitive bidding.
It may be mentioned here that out of the 19 selected power companies, only four submitted their technical and financial bids to supply power to GUVNL on long term basis.
