The fruits of
privatization must be savored by consumers. If CAG audit of discoms reveals
otherwise, the bleak side of privatization will be re-affirmed.
The power spat in the national capital has been temporarily
avoided thanks to Supreme Court. On Friday it ordered Reliance Infrastructure
owned BSES firms to pay 50 crores to NTPC, India’s largest power generation
utility, within two weeks. NTPC had recently threatened BSES firms to stall
power supply had they failed to pay their dues in the stipulated time.
Collectively BSES-Rajdhani and BSES-Yamuna owe 300 crores to the NTPC. However,
in a reprieve to them, SC has settled the matter at much lower payment till the
next hearing due for March 26.
The modus operandi of power sector in Delhi is complex. Amid
accusations and cross accusations of corruption and poor governance, it is
being hard to identify the malady ailing the power sector. BSES firms assert
that the Delhi government is required to pay them subsidy amount so that they
can recover their operational costs. They also contend that once government
pays them under-recoveries, they will make payments to NTPC. To this Aam Aadmi
Party led Delhi goverment hits back stating that the distribution companies are
not making losses. They just tamper with their balance sheets to show losses on
paper but actually they are incurring profits. The Delhi government has also
clarified that the subsidy amount due to discoms from it shall be adjusted
against the receivables of government-owned Delhi Transco Ltd, the power
transmission company, and the generation utilities, Indraprastha Power
Generation Co. Ltd and Pragati Power Corporation Ltd.