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PSPCL mops up Rs 975cr by selling surplus power

   November 18, 2018        468        Manish Sirhindi

The Punjab State PowerCorporation Limited (PSPCL) earned Rs 975 crore up to October 31 this fiscal by selling over 1,800 million units of surplus power to discoms of other states.

The additional revenue may have come as a relief for the power discom as the state government is yet to pay for subsidies offered to various categories of consumers. The PSPCL is also yet to get a payment of over Rs 1,200 crore for outstanding power bills of various government departments.

The power corporation sold the surplus power at an average cost of Rs 5.4 per unit in the open exchange from June to October. However, with fall in prices at the open exchange, the corporation has switched to power-banking arrangements to bring down fixed charges that it has to pay for installed power-generation capacity of independent power producers (IPPs).

Under power banking, a state’s discom supplies power to the power company of another state free of cost and then takes free supply from that company during its peak season. On Friday, power demand had dropped to 5,000 MW during the day and 3,000 MW during the night in Punjab. The demand in peak month, June, was 13,000 MW.

The PSPCL has to buy power from IPPs or pay them fixed charges against the installed capacity. At present, it is selling 1,600 MW of surplus power to Andhra Pradesh, Maharashtra, Uttarakhand, and Jammu and Kashmir to topple the fall in power prices in the open exchange.

This power supply would be withdrawn by the corporation during the next paddy-sowing season.

PSPCL chairperson Baldev Singh said even after meeting all agricultural, domestic and industrial requirements, the corporation still had extra power and not using it would result in losses to the corporation in terms of fixed charges that are to be paid to the IPPs.

TNN

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