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Home News Power Sector News BSES assures NTPC of clearing dues of Rs 1300 cr by September

BSES assures NTPC of clearing dues of Rs 1300 cr by September

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DelhiThe looming electricity crisis in the national Capital seems to have receded with the Reliance Infra-promoted power distribution utility BSES and NTPC coming to a settlement over the payment issue following which the regulation notice has been withdrawn by the electricity supplier. 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.

In a letter written to NTPC, the BSES has said, "In view of the amicable settlement arrived at BRPL and NTPC, we understand that the regulation notice, dated 04.05.2016, stands withdrawn".

Following the regulation notice earlier this month, BSES had sought the intervention of Delhi Electricity Regulatory Commission (DERC) seeking amortization of its "undisputed" regulatory assets totalling Rs 16,000 crore, which would help it clear its Rs 12,000 crores of dues.

NTPC had sought the clearance of its dues from the BSES or threatened with reduction of power supply to the national Capital.

The two arrived at a settlement following the intervention of the DERC and with the BRPL, which is the umbrella organisation of the two utilities in Delhi, assuring NTPC of clearance of dues by September this year.

BRPL and NTPC held a meeting earlier this week where an amicable settlement was arrived at regarding the payment schedule of the outstanding dues.

In the letter written today, BSES has also asked DERC that tariff hike should also be allowed as soon as possible.

Source- PTI

 

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