CERC comes to rescue Reliance Discom
NTPC had threatened for regulation of power supply as Reliance Discoms had failed to clear outstanding dues of Rs. 428 crore. NTPC on December 24 had asked the Discoms for immediate payment of outstanding dues and establishing of consolidated Letter of Credit (LC) with a validity of one year failing which the regulation of power supply would commence from the midnight of New Year.
Discoms has sought grant of a moratorium period of six months before the payment schedule commences and permission to pay the arrears in six equal monthly installments along with applicable interest.
It may be added that Delhi Government has added Rs. 500 crore as equity to bail out Reliance Discoms. Meanwhile TATA Company NDPL has sought similar benefits to its company as it is supplying power on same rate and terms and conditions.