Taiwan Power Co (Taipower, 台電) yesterday urged large consumers of electricity to join its new “demand bidding” program, under which it “buys back” power from big users capable of reducing their energy consumption.
The state-run utility, which launched the program last month, is asking big power users to “bid” on how much power they can forgo on a particular day and at what price per kilowatt-hour (kWh).
The utility paid as much as NT$9.5 per kWh to program participants for their electricity over the past week, when the supply of electricity was tight due to spiraling demand amid high temperatures, Taipower president Chu Wen-chen (朱文成) said.
Photo: CNA
“Users not only saved money by using less power, they also earned NT$9.5 per kWh bought back by Taipower,” Chu said.
Peak loads used to be seen primarily in July and August, Chu said.
However, electricity consumption began breaking records late last month and has risen 8.3 percent this month compared with the same period last year, a rise Chu said was “shocking.”
When the utility’s operating reserves fell to dangerously low levels in the past it often resorted to using gas or diesel to generate power at a cost of about NT$8 to NT$9 per kWh, about three times more than its average cost of about NT$3 per kWh, Chu said.
The program, which is similar to those used by electrical utilities in the US and other nations, gives Taipower a more market-driven option to increase its operating reserves while giving big power users an incentive to save power.
Chu said 27 big power users have joined the program, and he urged more government institutions, office buildings, shopping malls, hotels and schools to join up.
Taipower said program participants can submit load reduction bids on an hourly basis. Program terms include day-ahead notice by 6pm and a minimum load reduction bid of 50kWh over two to four consecutive hours.
The bidding takes place each week, with the price capped at NT$10 per kWh for qualifying load reduction.
When it needs to make adjustments, Taipower first selects those bidders that have offered the lowest price, adding it guarantees that it will buy any electricity offered at a price of NT$3 to NT$4 per kWh, Chu said.
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