Let us see the inefficiencies of GRIDCO to perform its core activities of power trading so to supply electricity to People of Odisha at reasonable & realistic price. As reported by CAG in its audit report for FY 2012-13, in absence of availability of inter-state power trading licence, GRIDCO the Licensee of intra-state power Trader of Odisha performed power trading through Indian Energy Exchange Ltd. (IEX) & proposed for 200 MW on 2nd July-2009 considering late arrival of moonsoon at a price of Rs. 2.80 to Rs. 3.00 Per Unit/KWH but due to belated submission on dated 17th September 2009 of bid at a price of Rs. 2.50 per unit as prevails in that time between 3rd to 8th September 2009 in IEX where clearing price exceeding the quoted price, the Company GRIDCO could not able to procure power through IEX. This enforced GRICO to procure power from CGP at a higher price of Rs. 3.00 to Rs. 3.10 per unit during July to September 2009 & sustained revenue loss of Rs. 36.96 crore. Poor affairs in the functioning of GRIDCO has become aditional cost to People of Odisha needs redressal only at High Court.
Posted on: Wed, 25 Jun 2014 03:43:04 +0000
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