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Home KSEB KSEB to brief Kerala on financial crisis

KSEB to brief Kerala on financial crisis

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MonsoonThe steep shortfall in power generation is bleeding the Kerala State Electricity Board (KSEB). Being deprived of other options, the board has decided to inform the government that it was suffering a daily loss of around Rs.5 crore and monthly loss of Rs.150 crore and also seek its opinion on imposing fresh curbs. The board approved the annual figures of 2011-12 with a revenue gap of Rs.1,934 crore.

 The crisis was mainly on account of the acute deficiency in power generation from the hydel stations in the State. Crisis management was the main item on the agenda of the full board meeting held  on 03-08-2012 for reviewing the precarious power situation in the wake of scanty monsoon and lowering of water level in the reservoirs.

The daily power generation is reported to have come down from 18 million units to an average of nine to 10 million units.

This has prompted the board to opt for purchasing 10 million units a day at a variable cost of Rs.9.80 a unit. The power purchase is costing the board dear.

As per the current power tariff, the board could realise only Rs.3.60 a unit from the consumers. The government order for collecting the revised tariff of Rs.4.40 a unit will come into force only by mid-August. The board will have to wait for the order for issuing the revised power bills to the consumers, sources said.

Thus the board incurred a loss of about Rs.5 crore a day. The financial condition does not permit the board to approach banks for an overdraft. Compared to the previous year, there was seven per cent increase in the revenue in the current year, but there was 11 per cent increase in power consumption. This has led to the revenue gap.

The board meeting is understood to have resolved to apprise the government of the current financial position and seek its opinion on imposing new restrictions. The meeting decided to open 28 new section offices in view of public convenience.

Source- Hindu


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