Need to make power sector financially viable to attract investment: R K Singh

New Delhi: The Review, Planning and Monitoring (RPM) Meeting of Power Sector, with Power / Energy Secretaries and CMDs / MDs of all discoms of all states, is being held under the chairpersonship of Union Minister for Power and New & Renewable Energy Shri R. K. Singh, in New Delhi, on January 18 & 19, 2024. Union Power Secretary, Union New & Renewable Energy Secretary, Additional Chief Secretaries / Secretaries / Principal Secretaries (Power/ Energy) of States, CMDs of State Power Utilities and officials from Central Public Sector Enterprises are participating in the meeting.

Addressing the power sector stakeholders in his opening address, the Union Minister for Power and New & Renewable Energy underlined the importance of making loadshedding a thing of the past. “I do not accept a future where India continues to be a developing country. The difference between this future and that of a developed country is very simple: there is no loadshedding in a developed country, every discom has money to buy power, people’s rights are respected and disruption to power happens once in 20 – 25 years.

Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoY

Hence, loadshedding will be penalized, it is an insult to the people. You have to add capacity, sign PPAs and ensure resource adequacy. You have to become more efficient.” The Minister pointed out that while billing efficiency has gone up, collection efficiency remains stuck at 92.7%.

Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail deposits

Shri Singh observed how the power sector has come a long way. “The average daily availability of power in rural areas has gone up from 12.5 hours in 2015-16 to about 21 hours now, and in urban areas from around 20-21 hours to 23.8 hours. Energy shortage has come down from 4.5% in 2014 to less than 1% today. We have reduced the AT&C losses of discoms from 27% in 2015-16 to 15.41%. People do not see generators now. In energy transition is concerned too, we are way ahead.” So, we have come a long way, but we still have not arrived, added the Minister. “The ACS-ARR gap has gone up from 15 paise to around 45 paise, which is a cause of some concern. Load shedding still happens in some states. Load shedding is going to be history,” the minister said.
 

Read Also : India assumes the Chair of Asian Disaster Preparedness Centre