The BSEB has been unbundled and restructured into five companies, Bihar State Power Company Limited (BSPCL), Bihar State Power Transmission Company (BSPTC), Bihar State Power Generation Company (BSPGC), South Bihar Power Distribution Company (SBPDC) and North Bihar Power Distribution Company (NBPDC) as under the new 'Bihar State Electricity Reforms Transfer Scheme 2012', erstwhile BSEB Chairma P K Rai told PTI.
All five new companies have come into being from today as per the notification issued by Energy Secretary Sandeep Poundrik yesterday, he said.
The BSPCL will be the holding company of the other four companies, he said.
Rai, who has been made one of the directors in the holding company - BSPCL, said that restructuring of the BSEB will boost reform process in the power sector in Bihar as the new companies will have no no financial encumbrance and a higher credit ratings to borrow loans for expansion or related works in future.
Besides, all these five companies will be managed in a professional manner with efficiency, work culture and accountablity being key to its functioning, he said.
Bihar government had cleared the decks for restructuring the BSEB last week by giving approval to a proposal at a cabinet meeting.
Last year it had given an in-principle approval to the proposal for unbundling of the BSEB.