Power discoms faced losses worth Rs 27000 cr in FY19: Minister

By: |
Published: December 29, 2019 3:47 PM

"I have to help the discoms of all states to make them viable by reducing their losses," he said. Listing the targets for 2020, Singh said in some states the transmission and distribution losses were very high. In addition, there were also commercial losses, related to metering, billing and bill collection.

Power industry, discom, discom loss, Minister, Goa Power Minister, Power Minister, NDA government, “Overall, last year the aggregate transmission and distribution loss for the entire country was 18.5 per cent. We want to bring it down to 15 per cent in next two years,” the minister said.

Power distribution companies in the country suffered losses worth Rs 27,000 crore in 2018-19, Union Power Minister R K Singh has said. The Centre aims to reduce electricity transmission and distribution losses in the country to 15 per cent in next two years, Singh said here on Saturday. He met Goa Power Minister Nilesh Cabral at the Power Grid Corporation’s facility at Colvale, located about 20 km from here.

After the meeting, Singh said, “The total loss of all power distribution companies in the financial year 2018-19 was Rs 27,000 crore. That is huge. Because of the losses, the discoms are under stress.” He noted that the discoms were facing issues related to purchase of power, maintenance and others.

“I have to help the discoms of all states to make them viable by reducing their losses,” he said. Listing the targets for 2020, Singh said in some states the transmission and distribution losses were very high. In addition, there were also commercial losses, related to metering, billing and bill collection.

“Overall, last year the aggregate transmission and distribution loss for the entire country was 18.5 per cent. We want to bring it down to 15 per cent in next two years,” the minister said.

Talking about achievements of the NDA government, Singh said the power sector has a undergone huge transition. “Before our government came to power, we had a power deficit. We did not generate enough power for our requirements before 2014. There used to be load-sheddings. We have made the country surplus in power generation,” he said.

Singh said India was now exporting power to Bangladesh, Nepal and Myanmar. “Now, the whole country is unified into one grid…we can generate power in Kashmir and supply to Kanyakumari,” he added.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Anti-China wave can be game changer; reforms urgently needed: L&T chairman
2US firm Fiserv to support Federal Bank to launch credit card
3Under-construction renewable energy projects get five-month extension for meeting deadlines for completion