Comments
BSES, a joint venture between Delhi government and Anil Ambani’s Reliance Infrastructure, cumulatively owes NTPC and its joint-venture power-generation firms ₹2,265.35 crore.
Out of these dues, BSES owes NTPC’s JV company Aravali Power Company Ltd (APCPL) ₹1,562 crore as penalty, interest and power off-take charge. NTPC owns 50 per cent stake in APCPL, and Haryana Power Generation Company Ltd (a Haryana government company) and Indraprastha Power Generation Company Ltd (a Delhi government company) own 25 per cent each.
Reliance Infrastructure distributes power in Delhi through its two subsidiaries — BSES Yamuna Power Limited (BYPL) and BSES Rajdhani Power Limited (BRPL). According to the BSES website, BRPL supplies power to 21 lakh customers in South and West Delhi, while BYPL caters to 14 lakh customers in Central and East Delhi.
BSES’s net dues to APCPL stood at ₹961 crore before power supply was clipped in September 2016. The company has paid back only ₹158 crore of these dues till date, according to officials in the know. However, the total payout for BSES to APCPL has grown to ₹1562 crore with the levy of penalty and interest for non-payment.
Those associated with the development told BusinessLine that APCPL stopped supplying power to BSES companies from September 2016 due to the swelling dues.
As of March 31, 2016, BRPL owed ₹528 crore; these dues swelled to ₹754 crore by September 2016. Of the total dues, BRPL has paid back ₹142 crore.
BYPL owed ₹266 crore as of March 31, 2016; these dues in the current year stood at ₹173 crore. BYPL has paid ₹16 crore of these dues till date.
Of the other dues the BSES companies owe to NTPC, BRPL owes ₹346.56 crore — this is inclusive of the monthly bill of ₹170 crore for February 2017. BYPL owes ₹357 crore — this amount too is inclusive of the ₹80 crore to be paid for February 2017.
Financial stressIn an emailed statement, BSES said the company is under huge financial stress due to non-liquidation of regulatory assets, which are over ₹16,000 crore as on March 31, 2016. It said: “As compared to this, total over-dues (including Late Payment Surcharge) payable by BSES discoms to NTPC and APCPL are ₹444 crore and ₹1,490 crore, respectively. BSES discoms are also making concerted efforts to address the situation and clear pending dues in a just and equitable manner.”
The payment of dues to power utilities by BSES discoms is sub judice in the Supreme Court. “We are awaiting the Supreme Court judgement, which will clear the path for recovery/liquidation of regulatory assets,” it said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.