PSPCL faces Rs 2,075 cr loss for surrendering surplus power
Chandigarh: As power surplus is putting “heavy” financial burden on energy utility PSPCL due to lack of sale, state electricity commission has worked out Rs 2,075 crore financial impact for surrendering excess energy for 2016-17.
Asking Punjab State Power Corporation Limited (PSPCL) to sell additional power to reduce fiscal burden, the regulator has also announced measures to boost power consumption and reduce financial impact.
“When there is surplus power (with power utility), it (PSPCL) has to bear fixed cost that comes to Rs 2,000 crore loss which PSPCL has to incur because power is not sold,” Punjab State Electricity Regulator Commission (PSERC), Chairman, D S Bains said here today.
“That is why we are trying that there will be no peak load hours restrictions, no surcharge. We have given night rebate which will kick start the demand for power as industry is the only sector which can consume more power. So that the power surplus situation can be used to our advantage,” he said.
PSPCL, in its annual revenue return for 2016-17, has projected 18,124 million units of surplus power from central generating stations and independent power producers (IPP) in the state for 2016-17 which is to be surrendered.
The power utility has not submitted any proposal to either utilize or sell this additional energy available within the state or outside the state, as per new tariff order.
It has also not calculated the financial burden of surrendered power in the annual revenue requirement (ARR) for 2016-17, the order said.