Maharashtra to buy 400 MW of electricity at Rs 2.76/unit

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The ceiling tariff for the reverse auction, which was initially scheduled to take place in mid-September, was kept at Rs 2.80/unit.

Maharashtra discovered the price of Rs 2.76 per unit of electricity in the reverse auction held under the ‘flexible utilisation of coal’ scheme, popularly known as tolling. The state would buy 400 MW of coal-based power from the lowest bidders—CESC (185 MW) and Ideal Energy (215 MW) till June, 2018. The ceiling tariff for the reverse auction, which was initially scheduled to take place in mid-September, was kept at Rs 2.80/unit. This makes Maharashtra the second state to use tolling for reducing the cost of power generation, which was approved by the cabinet in May, 2016. Repeated inquiries seeking detail of the auctions sent to Mahagenco-Maharashtra’s electricity utility-did not elicit any response.