Power System Operation Corporation (POSOCO) will
become a wholly owned Government of India company under the Power Ministry.
In a statement, Power Ministry said this move is to
strengthen the institutional mechanism of POSOCO and help bring innovation in
the power sector.
“With transmission coming under competition and
multiple transmission licensees operating, need was felt to ensure the
independence and neutrality of the system operation function,” an official
statement from the Ministry of Power said.
POSOCO operates the National Load Despatch Centre
and the Regional Load Despatch Centre which are responsible for operating the
electricity market in the country. It is also the nodal agency for major
reforms in the power sector such as Renewable Energy Certificate mechanism,
transmission pricing, short term open access in transmission, deviation
settlement mechanism and the power system development fund (PSDF).
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