‘BSES dues more than what it owes NTPC’

Reliance Infrastructure-backed power distribution companies — BSES Rajdhani and BSES Yamuna — have told the electricity regulator that the money due to them is more than Rs 12,000-crore dues they owe to the state-run electricity generator NTPC. The two discoms wrote to the Delhi Electricity Regulatory Commission after the NTPC warned of cutting power to BRPL and BYPL because of outstanding dues.

The NTPC recently threatened to suspend electricity supply to the two BSES discoms in Delhi if they failed to pay their outstanding dues by May 10.

The private power distribution companies on Monday wrote to the electricity regulator on the issue and pointed out that since the undisputed regulatory assets due to them amounted to Rs 16,000 crore, these will be more than enough to clear the power purchase dues of the 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 overdues of about Rs 12,000 crore as on March 31, 2016,” the letter said.

It also said 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, which is an increase of around Rs 5,970 crore.

The two discoms have accordingly sought city’s electricity watchdog’s intervention to “provide a concrete and credible amortisation plan (principal and interest) for the admitted amount of regulatory assets of approximately Rs 16,000 crore, which will help BSES discoms in raising finances.”

It has also requested an increase in tariff so that they are cost reflective for the current fiscal. “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 discoms’ letter added.