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Remarkable dues leap to Rs 88000 cr: J&Okay discoms amongst primary nonpayers


New Delhi, Feb
16: Power producers’ total outstanding dues owed by distribution firms jumped
nearly 50 per cent to Rs 88,177 crore in December 2019 over the same month
previous year, reflecting stress in the sector.

Discoms in Jammu
& Kashmir, Rajasthan, Uttar Pradesh, Telangana, Andhra Pradesh, Karnataka
and Tamil Nadu account for the major portion of dues to power gencos, the data
showed. Overdues of independent power producers amount to 25.45 per cent of the
total overdue of Rs 78,174 crore on discoms in December.

Distribution
companies (discoms) owed a total of Rs 59,015 crore to power generation
companies in December 2018, according to portal PRAAPTI (Payment Ratification
And Analysis in Power procurement for bringing Transparency in Invoicing of
generators).

 

The portal was
launched in May 2018 to bring in transparency in power purchase transactions
between the generators and discoms. In December 2019, the total overdue amount,
which was not cleared even after 60 days of grace period offered by generators,
stood at Rs 78,174 crore as against Rs 44,464 crore in the same month of the
preceding year.

Power producers
give 60 days to discoms for paying bills for the supply of electricity. After
that, outstanding dues become overdue and generators charge penal interest on
that in most cases. In order to give relief to power generation companies
(gencos), the Centre enforced a payment security mechanism from August 1, 2019.
Under this mechanism, discoms are required to open letters of credit for
getting power supply.

According to the
latest data on the portal, outstanding dues in December has also increased over
the preceding month. In November 2019, total outstanding dues on discoms stood
at Rs 82,414 crore. The overdue amount in November has also increased over the
preceding month. The total overdue amount was Rs 73,175 crore in November 2019.

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Among the central
public sector power generators, NTPC alone has an overdue amount of Rs
15,695.65 crore on discoms, followed by NLC India at Rs 5,010.69 crore, NHPC at
Rs 3,165.09 crore, THDC India at Rs 2,136.30 crore and Damodar Valley
Corporation at Rs 822.09 crore. Among private generators, discoms owe the
highest overdue of Rs 3,201.68 crore to Adani Power, followed by Bajaj
Group-owned Lalitpur Power Generation Company Ltd at Rs 2,212.66 crore and GMR
at Rs 1,930.16 crore. The overdue of non-conventional energy producers like
solar and wind, stood at Rs 6,739.47 crore in December.


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