What is ElectricityBazaar?
ElectricityBazaar is a dynamic platform designed to shake up the power sector by promoting competition and making electricity procurement profitable for customers. It’s run by a group of professionals who focus on helping consumers get low tariff electricity directly from power producers. Rather than owning or distributing energy, ElectricityBazaar acts as a marketplace presenting rates from various electricity generators and suppliers. The platform offers round-the-clock services for power procurement planning, optimization, and capacity building. Before suggesting suitable tariffs, a detailed energy audit is carried out to analyze the consumer’s usage pattern, ensuring custom rates that typically lead to cost savings.
Main Benefits of ElectricityBazaar
ElectricityBazaar offers a range of benefits for both project owners and energy customers. Here are some key highlights:
- Secure energy buyers faster and cheaper, speeding up the Power Purchase Agreement (PPA) process for renewable and non-renewable energy developers.
- Legal and technological innovations streamline PPA contracting, enabling faster access to new or different energy consumers at lower costs.
- Flexible contracting solutions save time, effort, and internal manpower while delivering higher returns.
- Immediate solutions for project owners include identification of multiple offtakers, due diligence, fast-track PPA facilitation with predefined terms, and reduction in contracting costs.
- Participation from a wide range of offtaker companies across different segments is encouraged, simplifying negotiations that now happen in days, not months.
- Unique Identification Codes (UIC) are assigned to each generator and customer upon registration, ensuring transparency and traceability.
How Project Owners Benefit
Project owners, whether in renewable or non-renewable energy sectors, find ElectricityBazaar especially valuable. The platform helps them secure energy buyers quickly and at competitive prices. It simplifies the PPA contracting process by leveraging legal and technological innovations, allowing project owners to tap into new markets and consumer segments faster than ever before. The platform also offers solutions like identifying multiple offtakers, conducting due diligence, and facilitating fast-track PPAs with predefined terms. This reduces contracting costs and manpower requirements, ultimately delivering higher returns. Plus, with the assignment of Unique Identification Codes, project owners gain a streamlined and transparent process.
How Energy Customers Benefit
Energy customers also enjoy significant advantages through ElectricityBazaar. They can secure energy generators faster and more affordably, thanks to the platform’s innovative approach to PPA contracting. Customers get access to a flexible contracting solution that saves time and effort, while also ensuring compliance with Renewable Power Purchase Obligations (RPO). The platform helps customers identify multiple generators, perform due diligence, and fast-track PPAs with predefined terms, all while reducing contracting costs. Customers simply choose their energy requirements and minimum price per unit, and ElectricityBazaar handles the rest. The assignment of Unique Identification Codes to customers adds an extra layer of accountability and ease.
Energy Sources and Pricing
ElectricityBazaar offers a variety of renewable and non-renewable energy sources with clear availability and pricing details. Renewable energy sources include solar, wind, hydro, biogas, biomass, and tidal power. For instance, solar energy is available at 20 lakh units per month priced at Rs 7.20 per unit (including L&C) plus additional surcharges. Wind and hydro power are available at 50 lakh and 30 lakh units per month respectively, priced at Rs 4.65 per unit plus CSS and ASC extras. On the non-renewable side, thermal power is available, while gas and nuclear power plants are currently not available. This transparent pricing and availability help customers make informed decisions based on their energy needs and budget.
Project Impact on Sustainable Development Goals (SDGs)
- SDG 7: Affordable and Clean Energy – Promotes access to affordable, reliable, sustainable, and modern energy for all.
- SDG 9: Industry, Innovation, and Infrastructure – Encourages innovation in energy procurement and infrastructure development.
- SDG 12: Responsible Consumption and Production – Supports efficient energy use and sustainable consumption patterns.
- SDG 13: Climate Action – Facilitates the use of renewable energy sources, reducing carbon footprints.
- SDG 17: Partnerships for the Goals – Builds partnerships between energy producers and consumers for mutual benefit.
Contact and Connectivity
ElectricityBazaar operates from Mysuru, India, with office hours from Monday to Friday, 10:00 am to 8:00 pm. Customers and project owners can reach out via email at ippa@electricitybazaar.com or phone at +91 7975997925. The platform maintains an active presence on social media channels including Facebook, Instagram, LinkedIn, Pinterest, Twitter, Yelp, and YouTube, making it easy to stay connected and updated. This multi-channel approach ensures that users can engage with ElectricityBazaar in the way that suits them best, whether for inquiries, support, or staying informed about the latest developments in the power sector.
