Reliance firms have history of payment defaults: NTPC

Feb 05 2014, 08:49 IST
Comments 0
There is a payment shortfall of Rs 96.07 crore on BSES Yamuna. (AP) There is a payment shortfall of Rs 96.07 crore on BSES Yamuna. (AP)
SummaryThere is a payment shortfall of Rs 96.07 crore on BSES Yamuna.

Warning of a cut in the power supply to the national capital, state-owned NTPC on Tuesday said the Anil Ambani Group owned distribution companies here have a history of payment defaults and their electricity supply would be curtailed if they fail to pay their dues by Monday.

After issuing notices to BSES Rajdhani and BSES Yamuna on Saturday, NTPC said that it is in trouble and unless its dues are cleared the company may have to stop power supply to these discoms.

"We are in a difficult situation. If we are not paid in time, we will have to regulate nearly 2,000 MW of power, we have (other) buyers for it," chairman and MD, NTPC, Arup Roy Choudhury said here. When asked for comments, power minister Jyotiraditya Scindia said: "This issue is between DERC (Delhi Electricity Regulatory Commission), the discoms in Delhi and the state government, it is not for power ministry to comment but what we certainly do hope is that the dues rightfully in the case of NTPC should be paid as soon as possible."

Choudhury said the companies have a history of payment issues. He said, "This is not the first notice on BSES. They have been constantly defaulting in their payment security mechanism and this time it is the outstanding dues also."

However, the company added that there are no payment issues with Tata Power Delhi Distribution Limited, another discom which supplies electricity in New Delhi. "Tata Power has been paying their bills in time, we never had a problem with them. With BSES this is the third time we are facing problems," Choudhury added.

"We do not have TPA (Third Party Protection Audit) with the Delhi government like other governments. The discoms (in other states) are saved by state governments through the TPAs, under which we get payment from the states under the state allocation," he said.

These bills, due to BSES Rajdhani and Yamuna, are for the amount of power consumed in December and billed in January to be payable by the end of January. "For energy supplied in December, we paid Coal India in October and November and 75-80% of the electricity tariff is cost of coal," Choudhury added.

NTPC said that currently there is no letter of credit available for the two companies. BSES Rajdhani's last letter of credit was encashed on January 31, leaving a shortfall of Rs 27l.61 crore. There is a payment shortfall of Rs 96.07

Single Page Format
Ads by Google

More from Economy

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...