Tangedco owes ₹21,399 crore to power generators
The Hindu
Central power generating stations raise some queries on liquidation scheme submitted by the Tangedco
Tamil Nadu’s power distribution utility Tangedco owes a total of ₹21,399 crore to Central power generating stations, independent power producers and renewable energy generators as on July 12.
Meanwhile, some central power generating stations have raised some issues about the liquidation scheme submitted by Tangedco for settlement of dues.
Union Minister of Power and New and Renewable Energy R.K. Singh shared data from Praapti portal on the outstanding dues of distribution companies in a written reply in the Lok Sabha on Thursday.
As per the data, Tangedco owes ₹7,908 crore to Central power generating stations, ₹10,663 crore to independent power producers and ₹2,828 crore to renewable energy generators.
Responding to a question about dues of distribution companies, Mr. Singh pointed out that the Centre has brought a scheme to enable distribution companies to clear their legacy dues existing as on June 3, 2022.
As per the scheme, distribution companies will be given one-time relaxation wherein the outstanding amount, including the principal and late payment surcharge, will be frozen without further imposition of further surcharge. The discoms are given the flexibility to pay the outstanding amount in up to 48 instalments.
Late payment surcharge is levied on the payment outstanding by a discom to a generating company at the base rate (pegged to SBI’s Marginal Cost of Lending Rate). It is applicable for the period of default at base rate for the first month of default and increases by 0.5% for every successive month of delay, subject to a maximum of 3% over base rate at any time.