Tata Consultancy, state utilities to set up power exchange

September 8th, 2008 - 6:59 pm ICT by IANS  

New Delhi, Sep 8(IANS) Software services and consulting firm Tata Consultancy Services (TCS) will float a joint venture company along with the state-run National Thermal Power Corp (NTPC), National Hydro Power Corp (NHPC) and Power Finance Corp (PFC) to operate a national level power exchange, the company announced Monday. “A agreement has been signed amongst NTPC, NHPC, PFC and TCS for incorporation of a joint venture company to set up and operate a power exchange at national level,” TCS said in a regulatory statement.

The joint venture would be registered as a public limited company with an authorised capital of Rs.500 million (Rs.50 crore) for setting up an exchange to provide a neutral and transparent electronic platform for power trading.

The exchange will also ensure clearing of all trades in an efficient manner with access to all players in the power sector.

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