NLC India, formerly Neyveli Lignite Corporation, has earned gross revenue of Rs.216 crore in FY21 through trading of surplus power on the real-time platform of energy exchanges, the Central PSU in the coal ministry said.
In a release, NLC India said that it has made its entry in power trading “in a big way.” Through round-the-clock trading of surrendered power of the company’s thermal power stations on the Real Time Market (RTM) segment of energy exchanges, NLC India earned gross revenue of Rs.216 crore by trading 868.78 million kwh of electricity. It may be recalled that energy exchanges like IEX and PXIL commenced operations of their RTM platform on June 1, 2020, following approval from Central Electricity Regularoty Commission (CERC).
Surrendered power
Surrendered power represents allocation that is “surrendered” by power distribution companies and other beneficiaries. This relinquishing of allocation (surrendering) happens because of lower demand from consumers, and because cheaper electricity is available through energy exchanges..
NLC on RTM
NLC India started sale of surrendered power in the RTM segment on June 1, 2020, itself. It did so by setting up a control room for bidding in the real-time market, round the clock. In June 2020, NLC India had earned revenue of Rs.24.12 crore by selling surrendered power worth 111.23 million kwh. As of June 30, 2020, NLC India had a share of 21.24 per cent in the total volume of electricity traded on IEX’s RTM segment.
FY20 performance
In FY20, power surrendered to NLC India was 1,945.71 million kwh as against 1,891.47 million kwh in FY19. In FY20, a total of 1167.85 million kwh of the total surrendered power was sold by NLC India to power exchanges, thereby earning revenue of Rs.324.87 crore.
Also read:NLC India Starts Commercial Operations At Unit 2 Of NNTPP
Note: It may be noted that for FY21, NLC India, in the release, has reported only the quantum of power sold on the RTM platform. The total volume of power surrendered and that sold on exchanges (RTM and other platforms), in the whole of FY21, is not available. Assuming that all the surrendered power in FY21 was sold on RTM platform, there could still be surplus power sold on other platforms in the months of April 2020 and May 2020, as the RTM platform became available only from June 1, 2020 onwards. [FY21 runs from April 1, 2020 to March 31, 2021].
Featured photograph shows a power generation plant of NLC India.
