BSES owes suppliers Rs 3,200 crore
13 Feb 2013 12:55 AM GMT
Finally, a power supplying firm has woken up to losses being caused to the public exchequer by privately owned BSES, which is a majority stake holder in BSES Rajdhani and BSES Yamuna responsible for supplying electricity to over two-third of the national Capital.
The notice issued by NTPC, which has a recoverable of Rs 100 crore, is just the tip of the iceberg. The recoverable from the Anil Dhirubhai Ambani Group (ADAG) Reliance-owned private discom is upward of Rs 3,200 crore.
The third power discom, NDPL, which has Tata Power as major stakeholder, has no outstanding, according to the sources in the Delhi power department.
According to an official of Delhi government-owned GENCO, BSES (Rajdhani and Yumna) Power Limited have so far been unable to clear the dues of Rs 2,000 crore. He said if discoms failed to clear the dues, GENCO will be forced to cut power supply in future.
NTPC has served notice to both the BSES companies to renew the letters of credit which require payment of approximately Rs 100 crore. If the discoms fail to settle outstanding bills, the corporation will be forced to cut power supply. This action will affect more than 50 per cent BYPL consumers in East and Central Delhi and 15-20 percent BRPL consumers in South and West Delhi.
A BSES spokesperson said: ‘In absence of a cost effective tariff over the past several years, Delhi DISCOMS were under financial stress with accumulated recoverable revenue gap of around Rs 20,000 crore.’
The notice issued by NTPC, which has a recoverable of Rs 100 crore, is just the tip of the iceberg. The recoverable from the Anil Dhirubhai Ambani Group (ADAG) Reliance-owned private discom is upward of Rs 3,200 crore.
The third power discom, NDPL, which has Tata Power as major stakeholder, has no outstanding, according to the sources in the Delhi power department.
According to an official of Delhi government-owned GENCO, BSES (Rajdhani and Yumna) Power Limited have so far been unable to clear the dues of Rs 2,000 crore. He said if discoms failed to clear the dues, GENCO will be forced to cut power supply in future.
NTPC has served notice to both the BSES companies to renew the letters of credit which require payment of approximately Rs 100 crore. If the discoms fail to settle outstanding bills, the corporation will be forced to cut power supply. This action will affect more than 50 per cent BYPL consumers in East and Central Delhi and 15-20 percent BRPL consumers in South and West Delhi.
A BSES spokesperson said: ‘In absence of a cost effective tariff over the past several years, Delhi DISCOMS were under financial stress with accumulated recoverable revenue gap of around Rs 20,000 crore.’
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