Tangedco to pay ₹90 cr outstanding amount, seeks 1-week notice for payments

G Balachandar | | Updated on: Aug 19, 2022
High voltage power transmission lines from the Power Grid in Chennai.

High voltage power transmission lines from the Power Grid in Chennai. | Photo Credit: THANTHONI S

The Tamil Nadu Generation and Distribution Corporation Ltd (Tangedco) has said the due amount to be paid for the power sourced through exchanges is only ₹90 crore and it would be paid in a couple of days while assuring that there won’t be any impact on the power situation in the state as a result of restriction from trading on power exchanges.

Tangedco is one among the 27 power distribution companies across 13 states that have been restricted from trading on 3 power exchange platforms due to non-payment of outstanding dues.

Payment of dues

“After a reconciliation yesterday, the current due is only about ₹90 crore and not ₹900 crore plus as payments made in the previous days were not taken into the account. We keep paying continuously to settle the dues. i.e, if a power generation company raises an invoice 10 days ago and we paid some amounts in the following 9 days, it will still show as outstanding since we don’t have access to the portal to update due amounts. Online access to the portal should be given to the Discoms too and we have made a request for this,” a senior official of Tangedco said.

He said Tangedco has agreed to pay the correct due of ₹90 crore on Saturday as banks were closed on Friday and the issue will get resolved on Saturday.

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One week’s period

Tangedco has requested at least one week’s notice period to resolve it effectively. Because, if there is some amount that is under dispute, it may not be paid without solving it. So, a week’s notice will help solve such payment issues and Tangedco has requested such a notice period. “They said they will consider,” the official said.

The restriction move is unlikely to have any impact on the power situation in the state as Tangedco is not in a hurry to buy power through exchanges at least for the next 10-15 days as wind power is being generated in good quantum as this is the high wind season in the state.

The official also pointed out that the system is presently power generator-centric and it should be made to have a balanced approach.

The peak power demand on Friday morning in Tamil Nadu was 14,117 MW, while the state witnessed an all-time high demand of 17,563 MW on April 29, 2022.

Published on August 19, 2022
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