'Dues to BSES more than what it owes NTPC'

With the state-run electricity generator NTPC contemplating regulation of power to BSES Rajdhani and BSES Yamuna, the two private distribution firms in the national capital have told the regulator that the money due to them is more than what they owe.

The private companies on Monday wrote a letter to the Delhi Electricity Regulatory Commission, the regulator, pointing out that since the undisputed regulatory assets due to them amounted Rs.16,000 crore, it will be more than enough to clear the power purchase dues of 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 more around Rs.5,970 crore.

It has accordingly sought the watchdog's intervention to: "Provide a concrete and credible amortisation plan (principal and interest) for the admitted amount of regulatory asset of approximately Rs.16,000 crore, which will help BSES Discoms in raising finances."

It has also requested tariffs that 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."

--IANS

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