SHIMLA: Himachal Pradesh government has announced the creation of a single trading desk for energy trading. The government is allocating Rs 200 Crore to make this new energy desk operation soon.

The Chief Minister Sukhvinder Singh Sukhu revealed that this initiative aims to streamline trading strategies and coordination in the energy sector.

The move is set to revolutionize energy management in the state and enable effective short, medium, and long-term financial planning for the years 2024 and 2025.

Furthermore, the establishment of this desk will incorporate advanced technology into energy sourcing.

Himachal Pradesh, blessed with vast water resources and substantial hydroelectric potential of 24,567 MW, is taking a significant step towards optimizing its energy sector.

Currently, only 11,150 MW has been harnessed through 172 hydro projects, and the lack of coordination among key entities like the Directorate of Energy (DOE), Himachal Pradesh Power Corporation Limited (HPPCL), and Himachal Pradesh State Electricity Board Limited (HPSEBL) has led to suboptimal pricing, causing losses to the state.

The Centralized Energy Trading Desk will merge existing trading contracts, ensuring streamlined power management, CM said.

It will act as an independent entity overseeing power trade, optimizing transactions, and exploring structural and financial aspects.

The desk's advanced capabilities will enable precise energy forecasting for renewable sources, maximizing benefits and reducing charges.

With an allocation of Rs. 200 crore, this initiative aims to make Himachal Pradesh a leading Green Energy State.