NEW DELHI: State power distribution utilities will have to select power companies for electricity supply through an online bidding platform set up by the union power ministry.
The power ministry on Tuesday launched a portal for e-reverse auction for short-term electricity procurement by distribution companies.
Power Minister Piyush Goyal said the portal will be extended to enable states to sign medium- and long-term power purchase agreements with successful bidders. Andhra Pradesh, Bihar and Kerala have already invited power supply bids for a total of 1,000 MW from power generating companies.
Currently, distribution companies can call bids on the portal for power supply for up to one year.
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