DEEP Discovery of Efficient Electricity Price

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DEEP Discovery of Efficient Electricity Price

Postby shineseb » Tue May 24, 2016 9:04 pm

A unique way of power bidding by MSTC- MSTC, a Government of India Company is engaged in domestic and international trading activity for over 30 years. It was the canalising agency for import in India of Carbon Steel Melting Scrap and also Sponge Iron / Hot Briquetted Iron and Re-rollable Scrap till February, 1992.

PTC India said it has emerged as the most successful bidder on the recently launched e-bidding portal for procuring power and offered maximum bids to Uttarakhand and Kerala state discoms.

"PTC India offered a total of 9 bids from different sources to Uttarakhand and three bids to Kerala on the first ever e-bidding & e-RA (reverse auction) conducted on the new DEEP portal," the company said in a statement.

The Power Ministry has recently launched the DEEP e-bidding portal providing a single platform to all the utilities willing to procure power on Short-Term Open Access contracts through electronic competitive bidding and an electronic Reverse Auction thereafter.

This whole process aims at securing the most competitive power purchase costs to the distribution utilities. The transparency and fairness of the procurement process ensures the discovered rates are available in public domain.

PTC, being the sole successful bidder in Kerala tender, is to supply the entire requisitioned quantum of KSEB i.e. 100 MW Peak & 50 MW Day power to the state during the month of May 2016.
E-REverse Bidding

A reverse auction is a type of auction in which the roles of buyer and seller are reversed. In an ordinary auction (also known as a forward auction), buyers compete to obtain goods or services by offering increasingly higher prices. In a reverse auction, the sellers compete to obtain business from the buyer and prices will typically decrease as the sellers underbid each other.
Bidding performed in real-time via the Internet results in a dynamic, competitive process. This helps achieve rapid downward price pressure that is not normally attainable using traditional static paper-based bidding processes. Many reverse auction software companies or service providers report an average price reduction of 18-20% following the initial auction's completion
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