Power major BSES has assured NTPC that it will pay its dues amounting to about Rs 1,300 crore by September, days after the state-run corporation threatened to cut power supply to the discom over the non-payment of dues.
The national capital was staring at an impending power crisis owing to the dispute between the two bodies when the sector's regulator Delhi Electricity Regulatory Commission (DERC) stepped in and held a series of meetings.
In a letter to NTPC, a senior BSES functionary said BRPL (BSES Rajdhani Power Limited) had proposed a payment schedule "liquidating outstanding dues to NTPC till September 16".
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Following further discussions involving all stakeholders, an "amicable settlement" was arrived at regarding payment schedule of the outstanding dues, the letter said.
"In view of the above amicable settlement arrived at BRPL and NTPC, we understand that the regulation notice dated May 4, which was deferred by NTPC's communication dated May 9 stands withdrawn," it said.
After NTPC's warning, the Reliance Infra-backed BSES had sought DERC's immediate intervention in recovering its regulatory assets of Rs 16,000 crore so that the company can overcome funds crunch.
It had also urged DERC to put in place a cost reflective tariff structure for financial year 2016-17 and allow complete pass through of any variation in power purchase cost by way of an appropriate power purchase adjustment cost.
