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Home News Power Sector News MPSEB merged into MP power management company Ltd

MPSEB merged into MP power management company Ltd

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MPThe Madhya Pradesh government merged the MP state electricity board (MPSEB) with the newly formed MP power management company Ltd (MPPMCL) in a bid to streamline the working and improve efficiency. With this, the five-decade-old Board that ran the power sector's show in MP ceases to exist as a separate identity. State's energy secretary Mohammad Suleman said, "The work of transferring the staffers to the companies formed after unbundling of MPSEB, had been completed on April 10".

Though five companies, including three power distribution companies, carved out of MPSEB during its unbundling on November 1, 2002 under the MP Vidyut Sudhar Adhiniyam 2000, the Board was managing the cash flow, looking after employees and doing other activities of its offshoots. Later on, one more company - MP power trading company was carved out from MPSEB.

Madhya Pradesh Electricity Board (MPEB) came into existence on November 1, 1956. It was once concerned to be one of the best Boards in the country with a huge financial reserve.

After Chhattisgarh was carved out of MP, MPEB was rechristened as MPSEB on November 1, 2000. Little before renaming formation of MPSEB, its financial condition started deteriorating. But after the creation of Chhattisgarh, the Board's financial health turned "worrisome" as it had to part with some its power stations to the new state. The agriculture load remained intact with MPSEB.

Even there was a legal wrangling between two states over what they called inequitable distribution of asset and liabilities of MPEB.

Meanwhile, the biggest body of the power sector staffers - MP Vidyut Abhiyanta Sangh general secretary Pawan Jain said the government has taken the decision of merging the Board with MPPMCL in a haste adding that their pension issue matter has not yet been sorted out.

struggling hard to shape up its crisis-ridden power sector on Thursday made one more experiment by merging MP State Electricity Board (MPSEB) with the newly formed MP power management company Ltd (MPPMCL) here.

With this, the five-decade-old Board that ran the power sector's show in MP ceases to exist as a separate identity.

The state government has merged the Board with MPPMCL, MP

energy secretary Mohammad Suleman told TOI. The work of transferring the staffers to the companies formed after unbundling of MPSEB, had been completed on April 10.

Though five companies, including three power distribution ones, fruited out of MPSEB during its unbundling on November 1, 2002 under MP Vidyut Sudhar Adhiniyam 2000, the Board was managing the cash flow, looking after employees and doing other activities of its offshoots. Later on, one more company - MP power trading company was carved out from MPSEB. The companies were formed to bring in professionalism, accountability and free power sector from government control and dependency.

Madhya Pradesh Electricity Board (MPEB) came into existence on November 1, 1956. It was once concerned to be one of the best Boards in the country with a huge financial reserve.

After Chhattisgarh was carved out of MP, MPEB was rechristened as MPSEB on November 1, 2000. Little before renaming formation of MPSEB, its financial condition started detitorating. But after the creation of Chhattisgarh, the Board's financial health turned "worrisome" as it had to part with some its power stations. The agriculture load remained intact with MPSEB due to farming, especially soyabean crop in Malwa region of the state. "Just a speck of agriculture load went to Chhattisgarh.

Even there was a legal wrangling between two states over what they called inequitable distribution of asset and liabilities of MPEB.

Meanwhile, the biggest body of the power sector staffers - MP Vidyut Abhiyanta Sangh general secretary Pawan Jain said the government has taken the decision of merging the Board with MPPMCL in a haste adding that their pension issue matter has not yet been sorted out.

Power crisis was plaguing the state which witness load shedding ranging from two hours to 14 hours daily during the Rabi season. All the companies were running into huge losses even after a decade of reform in power sector. MP was among the seven states were the cost of electricity was at very higher side.
Source- TOI

 

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