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Delhi government on 12-12-2011 refused to infuse any equity into the Reliance Infrastructure-backed discoms BRPL and BYPL, following which power regulator DERC has given them one week's time to inform how they will pay dues to the tune of Rs 3,000 crore to a number of generation and transmission companies. A number of generation companies including state-run NTPC have asked the discoms to make the payments immediately and threatened to cut power supply to BYPL and BRPL if they fail to clear the dues.
The DERC had asked the Delhi government to present their position, and the government told the regulator that it would be impossible for them to infuse equity into the discoms where government has 49 per cent shares. Government sources, however, indicated that they may not have any problem in offering guarantee to loans for BSES discoms. Sources in the government said Chief Minister Sheila Dikshit and Power Minister Harun Yusuf were totally opposed to provide any financial assistance to the beleaguered discom.
A number of companies, including NTPC, had threatened to cut supply to BSES, which may lead to a blackout in 70 per cent of the areas where the company distributes power. "We have issued a notice to BSES asking it to explain by Tuesday how they will manage to pay the huge dues," a DERC member told PTI. DERC had slapped notices on BSES on November 25 asking why its licenses should not be suspended for failing to clear huge dues to the generation companies, and the discom on Wednesday replied to the notice presenting its financial position to the regulator. The company, however, told DERC it was confident of making the payments as a loan is being arranged.
Source- IBN Live
