DISCOMS pays almost Rs. 1,68,000 Cr of current dues in last 5 months
Significant Improvement in payment of GENCO dues with the implementation of Electricity (LPS and Related Matters) Rules, 2022.
Representational Image
New Delhi: With the implementation of Electricity (LPS and Related Matters) Rules, 2022, remarkable improvement has been seen in the recovery of outstanding dues of Suppliers including Generating Companies, Transmission Companies and Traders. The total outstanding dues of States which were at Rs. 1,37,949 Cr. as on 03.06.2022 have been reduced by Rs. 24,680 Cr. to Rs. 1,13,269 Cr. with the timely payment of just four (4) EMIs. For payment of EMI of Rs. 24,680 Cr, 5 States have taken a loan of Rs. 16,812 Cr. from PFC & REC and 8 States have opted to make their own arrangement.
Distribution companies are also paying their current dues in time to avoid regulations under the rule. Distribution companies have paid almost Rs. 1,68,000 Cr. of current dues in the last 5 months.
Presently, only one distribution utility i.e. JBVNL is under regulation for non-payment of current dues. Outstanding dues of distribution companies on trigger date have been reduced to Rs. 205 Cr. from Rs 5085 Cr. as on 18.08.2022.
Based on the results achieved so far, it is expected that strict implementation of the LPS Rules will bring back financial viability of the power sector in the country and would attract investment to ensure reliable 24x7 electricity to the consumers. This Rule has not only ensured that the outstanding dues are liquidated but has also ensured that the current dues are paid in time. It may be seen that the Rule has played a vital role in ensuring the financial discipline in Discoms.
Join PSU Connect on WhatsApp now for quick updates! Click here
Read Also : IREDA Posts Strong Q1 Growth; Disbursements Jump 31%, Loan Book Rises 27%