Debt of power distribution companies fell by 33% to Rs 93,000 crore

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Late payment surcharge rule applicable

Power sector benefits from stricter rules on arrears

AHMEDABAD: Less than a year after the implementation of late payment surcharge rules in June 2022, the total arrears of electricity distribution utilities ie discoms have come down by a third in May to around Rs. 93,000 crores. Rising discom dues to power generators (GENCOS) and transmission companies have been affecting the entire value chain of the sector since last year.

According to industry data, when the late payment surcharge scheme was launched in June last year, discoms owed Rs. 1.39 lakh crores. Payment Ratification and Analysis in Power Procurement launched in 2018 to bring transparency in invoicing of generators, i.e. according to the procurement portal, the total dues now stand at around Rs. 93,000 crores.

Under the new rules, non-payment of current dues by discoms by one month from the due date of payment or two and half months from the date of presentation of the electricity bill, whichever is later, provides for penalty of power cut under power under late payment surcharge.

During the first wave of Corona epidemic in May 2020, the government through PFC and REC under the low rate loan scheme for discoms Rs. 90,000 crore liquidity was announced. Later the infusion package was increased to Rs. 1.2 lakh crore and now Rs. 1.35 lakh crore has been made.

According to experts, the new rule ensures that outstanding discom dues are paid on time. The Late Payment Surcharge scheme has played a key role in bringing financial discipline to the discoms and its strict implementation in the near future could make the power sector more viable.

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