Discoms’ exceptional contributions to electric gencos rose to Rs 1.02 lakh cr in February, Energy News, ET EnergyWorld
However, the total unpaid dcoms contributions to power generation companies in February fell slightly from Rs 1,03,116 crore in January of this year and to Rs 102,676 crore in December 2020.
The PRAA portal was launched in May 2018 to provide transparency in electricity purchase transactions between producers and nightclubs.
As of February 2021, the total overdue amount, which has not been settled even after 45 days of grace period offered by the generators, stood at Rs 91,549 crore against Rs 73,867 crore the same month a year ago. year.
The overdue amount stood at Rs 92,120 crore in January 2021 and Rs 93,599 crore in December 2020.
Power producers give discoms 45 days to pay electricity supply bills. After that, the unpaid dues become overdue and producers charge penal interest on it in most cases.
To relieve electricity production companies (gencos), the Center has set up a payment security mechanism as of August 1, 2019.
Under this mechanism, nightclubs are required to open letters of credit to obtain power.
The central government had also given some respites to discoms to pay contributions to power generation companies due to the lockdown induced by COVID-19.
The government had also waived criminal prosecution for late payment of contributions in the directive.
In May, the government announced a cash injection of Rs 90,000 crore for nightclubs under which these utilities would obtain loans at economical rates from the Power Finance Corporation (PFC) and REC Ltd. It was a government initiative to help the gencos stay afloat. Later the cash infusion package was increased to Rs 1.2 lakh crore and then to Rs 1.35 lakh crore.
Energy Minister RK Singh last month said in a written response to Rajya Sabha that “so far loans of Rs.135,497 crore have been sanctioned (as part of the injection program of cash and 46,321 crore rupees were released to REC and PFC (Power Finance Corporation) “.
The minister also explained to the lodge that due to the resulting national lockdown, the revenues of electricity distribution companies (DISCOM) plunged, as people were unable to pay for the electricity consumed.
Discoms from Rajasthan, Uttar Pradesh, Jammu and Kashmir, Telangana, Andhra Pradesh, Karnataka, Maharashtra, Jharkhand, Haryana and Tamil Nadu represent the major part of the contributions to the gencos of power, according to the data.
The arrears of independent power producers amounted to 46.31% of the total arrears of Rs 91,549 crore of discos in February.
The proportion of gencos from the central PSU in the lags was 40.21 percent. Among the central public sector power producers, NTPC alone has an overdue amount of Rs 14,110.26 crore on discoms, followed by Damodar Valley Corporation at Rs 6,200.08 crore, NLC India at Rs 6,047.48 crore, NHPC to Rs 2,538.10 crore and THDC India at Rs 2,004.66 crore in February 2021.
Among private producers, discoms owe the largest delay of Rs 17,178.62 crore to Adani Power, followed by Lalitpur Power Generation Company Ltd, owned by the Bajaj Group, at Rs 4,817.12 crore, SEMB (Sembcorp) at Rs 3,178.40 crore and GMR at Rs 2,195.12 crore in February 2021.
The delay of unconventional energy producers like solar and wind power amounted to Rs 12,346.04 crore in February 2021. KKS MKJ