Uttar Pradesh will do Electricity Banking on a Large Scale | 18 Feb 2023

Why In News?

On February 17, 2023, Uttar Pradesh Power Corporation Chairman M. Devraj told that on the instructions of Chief Minister Yogi Adityanath, Uttar Pradesh Power Corporation has started power banking from other states on a large scale in order to fructify the efforts to provide uninterrupted power in all areas. has decided.

Key points

Chairman M. Devaraj said that under power banking, during winters and normal days, when the power demand in the state is average or low, at that time the corporation will distribute surplus power available to Jammu-Kashmir, Tamil Nadu, Madhya Pradesh, Rajasthan, Karnataka as well as NTPC. Will give When the demand for power in the state increases, this power will be withdrawn from these states as per the requirement.
It is noteworthy that in 2014 there were only 1 crore 42 lakh 64 thousand electricity consumers in the state, which have now increased to 3.25 crore. The peak demand for electricity, which was 12327 MW in 2014, has more than doubled to 26589 MW in 2022. There has been a huge increase in the hours of power supply. 24 hours electricity is being provided to the district headquarters and industries, 6 hours more electricity is being provided to the villages.
With industries getting 24-hour electricity, investors are also eager to come to Uttar Pradesh. The state's economy will get a huge boost if the huge investment proposals received at the Global Investors Summit come to the ground. The output of industries will increase the per capita income as well as the economy of the state.
It is believed that within two to three years, the economy of the state will reach one trillion dollars. However, with the arrival of industries, the Power Corporation will have to assess the potential growth of electricity demand in the coming years afresh, for which the Corporation has started preparations.
According to the corporation's chairman M Devraj, after the major decision of power banking, the power corporation will not sell the surplus power available with the state during winter and normal days through the power exchange but will give it to the states with whom agreements are being signed.
He told that for the first time an agreement has been signed for 249.29 million units from Jammu and Kashmir, 61.56 million units from Tamil Nadu. Agreement is proposed with Karnataka and NTPC. Rajasthan, which is linked to Uttar Pradesh through banking, had tied up for 449.6 million units last year. Now about four times more 1967.8 million units have been tied up for banking. A banking agreement has also been signed with Madhya Pradesh.
The chairman claims that with this effort, there will be no problem of electricity in the state. In winter, when demand is low, the generating houses will be able to run at full capacity, as other states will lose excess power. Under power banking, the corporation will provide power to these states as per the agreement if there is surplus power. These states will return the electricity taken when Uttar Pradesh needs it.
The advantage of this will be that even when the demand for electricity is maximum in the state between June and September, there will be no shortage of electricity. Electricity will not have to be purchased at the rate of Rs 12 and more from the power exchange. Always the power rate in the power exchange is very high during the summer days.
The chairman said that 7413 MW capacity will start by the power generation from the new generation units of 2025-26. 2023-24, By the end of 5000 MW units will be operational.
Electricity worth Rs 927 crore has been purchased in 2021-22 and Rs 2022-23 crore in 1311.91 so far. By 2030, the contracted generation capacity of electricity in the state is to be increased to 40392 MW. The contracted generation capacity is to be taken to 32356 MW in 2023.
In 2022-23, the maximum demand for electricity reached 26589 MW, whereas in 2014 the maximum demand was only 12327 MW. The peak demand is expected to reach 27776 MW in 2023-24.