Financial Daily from THE HINDU group of publications
Friday, Aug 12, 2005
Financial Daily from THE HINDU group of publications Friday, Aug 12, 2005 |
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Industry & Economy
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Power Bengal power board restructure may miss deadline Our Bureau
Kolkata , Aug. 11 THE restructuring of West Bengal State Electricity Board (WBSEB), which includes unbundling of distribution and generation, may spill over to the extended deadline of December 2005. The board is, however, hopeful of making net profits in 2006-07, once the restructuring is completed, after a gap of 30 years. Talking to presspersons at the Bengal National Chamber of Commerce and Industry, the Chairman of WBSEB, Mr M.K. Dey, said, "Consultants for financial restructuring will be appointed in a months time and the programme will take a couple of months for completion. This will be followed by unbundling of generation and distribution." The entire process was expected to be completed beyond the December, 2005 deadline. Meanwhile, the Board expects to earn close to Rs 1,000 crore through trade of surplus power to neighbouring States. This is higher than last year's export revenue of Rs 800 crore through sale of surplus power. Shortage of electricity in many States has led to rise in tariff for power sold through bids resulting in greater realisation for WBSEB. The Board has decided to invest close to Rs 1,500 crore for augmenting its distribution network by 2012. The utility has already spent close to Rs 1,000 crore for strengthening its network in regions where it did not have adequate infrastructure. According to Mr Dey, West Bengal was expected to have a peak surplus of around 3,400 MW by 2012. This would allow WBSEB to export power in a big way.
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