Punjab Power Minister Harbhajan Singh ETO on Tuesday unveiled the Punjab State Power Corporation Limited’s (PSPCL) new One Time Settlement (OTS) scheme — a three-month initiative aimed at helping consumers settle pending dues. The scheme applies to industrial, domestic, and commercial connections, whether active or disconnected, and will run until December 22, 2024.
Highlighting the scheme’s benefits, the Minister emphasized that consumers can clear outstanding amounts under simplified terms. The OTS scheme reduces the interest on defaulting amounts to a flat nine and 10 percent for consumers involved in court cases, compared to the previous 18 percent compound interest. In a major relief, fixed charges will be waived for periods under six months, and only six months’ worth of fixed charges will apply to longer durations.
Additionally, the scheme allows payments to be made in four instalments — a new provision — and waives penalties for pending security if the payment is made in one go. The Minister encouraged consumers, particularly those with ongoing court cases, to avail this “golden opportunity” for a swift, time-bound resolution.
“The Punjab Government, under Chief Minister Bhagwant Singh Mann, remains dedicated to serving its consumers with initiatives like the OTS Scheme,” Harbhajan Singh ETO added, appealing to the public to take full advantage of the offer.
