Bhubaneswar: Today, the Odisha Electricity Regulatory Commission (OERC) held a pivotal public hearing on the Annual Revenue Requirement (ARR) and Business Plan (BSP) application of GRIDCO, for the fiscal year 2024-25.
In a comprehensive presentation, GRIDCO delineated its strategy to meet the burgeoning power demands of the state, projecting a requirement of 37,457 Million Units (MU) of energy against which it has ensured an availability of 39,652 MU from long-term power contracts, with a contingency reserve of 2,196 MU (~6%).
As part of its meticulous planning, GRIDCO outlined arrangements from captive power plants, short-term, and medium-term contracts to cater to any exigencies in power supply. Furthermore, it highlighted its pursuit of renewable energy generation to promote sustainability within the state.
Emphasizing the importance of resilience in power infrastructure, GRIDCO has diligently complied with directives from OERC and the Central Electricity Authority, ensuring a contingency reserve of 10% and maintaining resource adequacy of 11% for the state respectively. Additionally, GRIDCO has requested support from the Government of India to offset power deficit caused by the damaged central hydro power station, Teesta-V.
Despite the challenges, GRIDCO expressed confidence in its ability to manage projected power costs for FY 2024-25 without necessitating an increase in retail tariffs. It elucidated that any incremental costs can be absorbed through the amortization of regulatory surplus available with DISCOMs and augmented revenue due to increased demand.
In summary, GRIDCO remains steadfast in its commitment to provide reliable and sustainable power supply to the people of Odisha. The public hearing underscores GRIDCO’s proactive approach towards addressing the evolving energy landscape while ensuring the welfare of its stakeholders.