Piyush Goyal Launches “Deep” E-Bidding & E-Reverse Auction Portal”

The government has replaced the conventional tendering process for power purchase by state power distributors with an e-bidding platform in an attempt to make the bidding more efficient and transparent by bringing power procurement contract details to the public domain.

Three states, Kerala, Bihar and Andhra Pradesh, have already sought 1,000 megawatt (MW) of short-term power through the power trading portal, which was opened by power minister Piyush Goyal on Tuesday in the presence of state power secretaries in the national capital.

The Discovery of Efficient Electricity Price (DEEP) e-bidding reverse auction portal for now will cover short-term power purchase of less than a year and in the next few months, start offering the option for longer-term power purchase too. The idea is to use the portal for all forms of power purchase and trading, including for 15 years and more, reducing the role of humans in transactions and eliminating corruption.

Each and every stakeholder in the Power Sector can access the portal “DEEP” through the following three Official Websites: www.mstcecommerce.com,From the Official Website of Ministry of Power www.powermin.nic.in and PFC Consulting website www.pfcclindia.com. It will be a very strong weapon to bring the illegal transactions into the light, and confine all these illegal transactions. Deep will also help in price reduction through competition. Those first 5 states which put their data within 1 week will be rewarded so that the other states can get inspired and do the work fast and proper manner.

Ujwal DISCOM Assurance Yojana (UDAY) is the financial turnaround and revival package for electricity distribution companies of India (DISCOMs) initiated by the Government of India with the intent to find a permanent solution to the financial mess that the power distribution is in. 
The scheme comprises four initiatives – improving operational efficiencies of discoms, reduction of cost of power, reduction in 

interest cost of discoms and enforcing financial discipline on discoms through alignment with state finances. It allows state governments, which own the discoms, to take over 75 percent of their debt as of September 30 2015, and pay back lenders by selling bonds. Discoms are expected to issue bonds for the remaining 25 percent of their debt.

Extra info:
1. At present, only 10% of total power purchase by state distribution companies, or discoms, are short-term.
2. Minister of State for Power – Mr. Piyush Goyal
3. Discovery of Efficient Electricity Price (DEEP)

So lets do:
1. Expand DEEP?
2. Who is the Minister of State for Power?

Source – Business-Standard


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