While the NTPC deferred its decision to cut power supply to Reliance-backed discoms after the State load Dispatch Centre (SlDC)’s intervention, the BSES has written to the Delhi Electricity Regulatory Commission (DERC) that the money due to BSES Rajdhani and BSES Yamuna are more than what they owe.
The BSES has further said that once “amortised”, its regulatory assets will be more than enough to clear the power purchase dues. It has also pleaded the DERC to provide a “concrete and credible” amortisation plan for the admitted revenue gap of over Rs 16,000 crore.
The private companies on Monday wrote a letter to the regulator DERC, pointing out that since the undisputed regulatory assets dues to them amounted Rs 16,000 crore, it will be more than enough to clear the power purchase dues of NTPC.
“As brought out in the meeting, the total approved and undisputed regulatory assets of BSES Discoms (distribution companies) amount to over Rs 16,000 crore, as against total overdue of about Rs 12,000 crore as on March 31, 2016,” the letter said.
It further added that due to lack of a cost-reflective tariff, these assets have been growing from Rs 2,186 crore in 2009-10 to Rs 8,156 crore in 2013-14, a growth of around Rs 5,970 crore.
While requesting tariffs that are “cost reflective” for the current fiscal, the BSES has also asked the watchdog to provide a “concrete and credible amortisation plan (principal and interest) for the admitted amount of regulatory asset of approximately Rs 16,000 crore, which will help BSES Discoms in raising finances”.
“The above steps would help the BSES Discoms to discharge their payment obligations in a timely manner and allay any threat of regulation of power in future,” the letter further added.