PTC India Ltd (PTCIL) expects the electricity trading segment to undergo a major change following a clarification over the Open Access System.
It has also increased its focus on renewable energy and has signed PPAs for more than 600 MW and has signed MoUs for solar power for over 1800 MW.
In a communication to the stock exchanges, PTCIL said a recent clarification of the Ministry of Law regarding open access system in the power sector recognised all 1 MW and above consumers as ‘deemed open access consumers’. The jurisdiction of regulators for fixing of energy charges for such category was restricted, following which ‘the electricity trading market is due for major transformation’.
PTCIL, earlier known as Power Trading Corporation of India Ltd, which was facilitating trading of power, looks at itself as a ‘change agent’ with greater focus on renewable energy. The company has signed Power Purchase Agreements (PPAs) for over 400 MW in the small hydro and biomass space. It has also signed MoUs with solar power plants for about 1800 MW and 220 MW of PPAs.