Financial Daily from THE HINDU group of publications
Wednesday, Sep 29, 2004
Financial Daily from THE HINDU group of publications Wednesday, Sep 29, 2004 |
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Regulatory Bodies & Rulings Industry & Economy - Power Regulator asks MSEB, State Govt to settle dues Our Bureau
Mumbai , Sept. 28 THE Maharashtra Electricity Regulatory Commission (MERC) has asked the State Government and the Maharashtra State Electricity Board (MSEB) to settle their differences over the amount they owe each other, before this quarter's `zero energy' bills for free power to farmers are issued. The unsettled dues between the two entities stand at Rs 615.74 crore. The State Government had so far been adjusting the dues it has to pay to MSEB with the electricity duty, loan interest and so on that it has to receive from the board. It was on September l that the MERC had ordered that the State Government would have to compensate MSEB in cash before any new bills were raised. That was unless the MSEB owed the State Government any dues from the previous year. ``Unless the Government of Maharashtra firms up the quantum of these payments by issuing formal orders before electricity bills are issued to agricultural consumers, the scheme of book adjustment proposed by MSEB and the Government cannot be made effective. The amounts that are not finalised cannot be taken into account while determining the net amount available for adjustment and Government shall make cash payments to the extent of the consequent shortfall," the MERC has said in its order. The State Government had issued a resolution to MERC on September 8, that it has to receive Rs 411.62 crore from MSEB towards interest on various Central Government loans and other dues.
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