December 02, 2008

RPG to enter into power trading

ET reported that, with an eye to participating in the growing national electricity market, RPG is taking big strides in the power trading spectrum and has floated a brand new corporate entity called RPG Power Trading, which will have offices in Kolkata and Delhi.

The Registrar of Companies has issued relevant statutory clearances. RPG Power Trading will shortly put in an application with Central Electricity Regulatory Commission for a trading license and to resolve interconnection issues.

Mr SK Dubey has been appointed as CEO of RPG Power Trading from his earlier post of senior executive at Power Grid Corporation India Limited.

RPG group’s decision to get into power trading is significant in the light of group flagship CESC’s plans to set up mega Greenfield generating stations in Haldia, Jharkhand and eventually Orissa. The objective is to trade the off peak generation surplus of these future group ventures in addition to the existing 350 to 400 million units of annual off peak surplus from existing CESC units. The traded power would largely cater to the needs of power deficient northern and western states.