POWER

Discoms’ outstanding dues to power gencos rise 63 pc to Rs 1.23 lakh cr in April

Power producers’ total outstanding dues owed by distribution firms rose nearly 63 per cent to Rs 1.23 lakh crore in April 2020 over the same month previous year, reflecting stress in the sector.

Distribution companies (discoms) owed a total of Rs 75,642 crore to power generation firms in April 2019, according to portal PRAAPTI (Payment Ratification And Analysis in Power procurement for bringing Transparency in Invoicing of generators).

The portal was launched in May 2018 to bring in transparency in power purchase transactions between the generators and discoms.

In April 2020, the total overdue amount, which was not cleared even after 60 days of grace period offered by generators, stood at Rs 1,08,487 crore as against Rs 58,200 crore in the same month of the preceding year.

According to the latest data on the portal, total outstanding dues in April has increased over the preceding month. In March 2020, the total dues of discoms stood at Rs 1,13,048 crore.

Source
financial express
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