Releases Rs 372 crore towards power utilities
Putting an end to its piling bills on subsidies, the Delhi Government on Monday cleared subsidy dues it owed to the three power discoms in the national Capital. While it released an amount of Rs 372 crore towards the power utilities, maintaining its stand, the Government adjusted the dues of Reliance owned BSES Rajdhani (BRPl) and Yamuna Power limited (BYPl) to the latter’s outstanding amount towards the State-owned companies — IPGCl, PPCl and DTl.
“The amount payable to BYPl and BRPl for this subsidy amounting to Rs 166.35 crore and Rs 96.46 crore respectively are being credited to IPGCl/PPCl and DTl towards the outstanding dues of BRPl and BYPl as part of their liabilities,” read the letter, which was delivered to the three companies and power regulator Delhi Electricity Regulatory Commission (DERC). With this the two debt-ridden companies will have a tough time paying their outstanding amounts to NTPC and other gencos. The BSES had earlier written to the government to sanction the subsidy dues directly to them instead of adjusting it in order to repay Rs 396 crore they owe to the centre-owned NTPC.
In its letter, the Government has released the subsidy dues to the discoms on the condition that they “shall keep an account of the subsidy amount claimed from the Government and pass on to the consumers in a transparent and verifiable manner.” Further, it also requested the DERC “to settle the accounts of the companies and submit trued up figures after doing required prudence check of true and fair figures collected from discoms.”