Financial condition of Tamil Nadu Power Generation and Distribution Corporation to recover from collapse! | Finances of the TANGEDCO have been slowly improving Puthiyathalaimurai – Tamil News | Latest Tamil News | Tamil News Online

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After the central government announced that the arrears owed to power generation companies can be paid in installments without interest, the Tamil Nadu Power Generation and Distribution Corporation (Danjetko) Finance is slowly but steadily rising.

17,191 crores due by the Tamil Nadu Power Generation and Distribution Corporation (TANJETCO) to various power producers will be refunded within 48 months following the Central Government’s order. This enables power generators to supply electricity without any interruption.

“The installments started in June and so far Rs 3438 crore has been remitted to various power producers. We pay Rs 358 crore every month, which has reduced our burden to an extent,” said a senior Danjetco official.

“Since June, we have been paying power generators and we have no arrears on generators except Rs 13,753 crore, which are allowed to be paid in installments,” the official said.

In August, 27 distribution companies (discoms) in 13 states bought or sold power to power exchanges citing non-payment of dues to generation companies.

“Subsequently, the Center allowed discoms like us to pay off loans to power generators in interest-free installments. In 2020-21, interest payments increased by 10.45% to Rs 10,837.87 crore and the total includes Rs 510.77 crore paid on loans taken for working capital,” it said. said the officer.

Total debt at the end of 2020-21 was Rs.1,23,299 crore. Every year, Danjetco borrows more than it repays. Due to this the total loan increases and the outflow along with the interest also increases.

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Since 2012, Danjetco’s debt has started to increase as the government depends on private power producers and the electricity exchange to purchase electricity. Regarding the various demands of current power board workers and retired workers, the official said that all the demands will be fulfilled once the revised tariff collection starts.

“Currently we have only revised collection that high tension consumers pay every month. For domestic consumers, we will levy the new tariff in November. Once the revised collections start rolling in, we will be able to fulfill the demands of current and former employees,” the official said.

The recently retired employees staged protests across the power board offices in the state. “We have sent a note to the finance department seeking a 3% hike in DA for retired employees. Once the department allows 3% DA, we will release the funds,” the official assured.

-P Sivakumar

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