Kerala says it took the GNA Energy offer over a Himachal Pradesh deal to avoid an extra liability of ₹2,232 crore

4 November 2026

Kerala has explained why the Kerala State Electricity Board bought power from GNA Energy OTC rather than from an offer routed through PTC India Ltd by the Himachal Pradesh government. The Chief Minister said at a post-Cabinet briefing that the Himachal offer was priced at ₹14.50 per unit while GNA quoted ₹8.63 and ₹8.90 per unit, and that taking the costlier supply would have added over ₹2,232 crore to the State's liability. The Himachal offer was for 843 million units up to March 2027 against GNA's 1,812 million units, with peak-time supply of 353 million units against GNA's 453 million units. Measured against the price ceiling fixed by the Electricity Regulatory Commission, the GNA purchase carried an extra ₹2.6 a unit and the Himachal purchase ₹8.5 a unit. All the offers were for round-the-clock supply. The government also said the transfer of M.G. Rajamanickam as KSEB chairman and managing director was part of a routine reshuffle.