PTC in Landmark Transaction for supply of power to CESC.
PTC India Ltd. (formerly known as Power Trading Corporation of India Ltd.) has entered into an agreement with CESC Limited for supply of power for 12 hours daily. Power supply to CESC under the agreement started with effect from 26 September 2004.
CESC Limited, an RPG Group company is one of the oldest private distribution companies in India and supplies power to the city of Kolkata, serving 12 million citizens across its licensed area, spread over 567 Sq. Km.
This transaction is a landmark, being the first of its kind in India, where a trading company is supplying power directly to an embedded customer of a state power system. This has been made possible through open access to the states system under the enabling provisions of the Electricity Act 2003.
PTC India Ltd. (formerly known as Power Trading Corporation of India Ltd.) is a pioneer in starting a power market in India. The company was born out of the need for an institution, which would provide credit risk mitigation to private power project developers and providing best value to both the buyers and sellers while ensuring optimum utilization of resources.
The trading activities undertaken by PTC include long term trading of power generated from large power projects as well as short term trading arising as a result of supply and demand mismatches, which inevitably arise in various regions of the country.
PTC is a unique example of a successful public-private partnership with major PSUs of the Union Power Ministry as promoters and wide ownership interest. PTC is a professionally managed company with a diversified board of directors including eminent people as independent directors.
PTC intends to maintain its leadership position in power trading while at the same time adhering to its core value of transparency with a focus on customer needs. |
