GRIDCO Issues Corrigendum-2 Revising Timelines, Billing Cycle And Deviation Rules For Short-Term Power Procurement

GRIDCO Limited has issued Corrigendum-2 for its ongoing tender for short-term power procurement from Intra-State Captive Generating Stations (CGPs) for the period April 2026 to July 2026. The latest update brings important changes in timelines, billing procedures, and operational conditions that bidders must carefully review before submitting their proposals.

One of the key changes is the extension of the bid submission deadline. The revised last date for submission is February 24, 2026, at 17:00 hrs. The opening of bids has been rescheduled to February 25, 2026, at 11:00 hrs. Earlier, the submission timeline was set for early February. The extension provides additional time for CGPs and trading licensees to prepare and finalize their technical and financial bids in line with the updated terms.

The corrigendum also introduces significant changes in the billing and payment structure. Instead of the earlier monthly billing system, sellers will now have to raise provisional bills on a weekly basis. The month will be divided into four billing cycles: from the 1st to the 8th, 9th to 15th, 16th to 23rd, and 24th to the last day of the month. However, the final bill will be settled only after the State Load Despatch Centre (SLDC), Odisha, publishes the State Energy Account. This change aims to streamline cash flow and improve financial discipline between the procurer and suppliers.

To further strengthen payment security, GRIDCO will establish a revolving Letter of Credit (LC) covering 100 percent of the weekly energy cost based on the contracted capacity. This LC must be opened before the commencement of power supply on April 1, 2026. The move is expected to provide financial assurance to power generators participating in the tender.

The corrigendum also introduces strict provisions regarding deviation from contracted capacity. Both GRIDCO and the sellers must ensure that the actual scheduled power does not deviate by more than 15 percent from the contracted energy. In case GRIDCO draws less than 85 percent of the contracted energy, it will be required to pay compensation equal to 20 percent of the tariff for the shortfall, along with full open access charges. Similarly, if a seller supplies less than 85 percent of the contracted energy, the seller will have to compensate GRIDCO at 20 percent of the tariff for the shortfall and bear the unused open access charges.

Any power supplied beyond the approved schedule will be treated as inadvertent power, and GRIDCO will not be liable to make payment for such excess injection. The newly introduced clauses will override any conflicting provisions in the original tender document, ensuring tighter operational control and financial accountability.