The four power distribution companies (discoms) operating in the state- Central Electricity Supply Utility (Cesu), Western Electricity Supply Company of Orissa Ltd (Wesco), Northern Electricity Supply Company of Orissa Ltd (Nesco) and Southern Electricity Supply Company of Orissa Ltd (Southco) together owe Rs 4332.40 crore (as on Septembern 30, 2010) to the state owned Grid Corporation of Orissa Ltd, the bulk supplier of power.
The three discoms owned by Reliance Energy- Wesco, Nesco and Southco owe Rs 2224.84 crore to Gridco while Cesu owes the balance amount of Rs 2107.56 crore, said state minister for energy, Atanu Sabyasachi Nayak.
Wesco owes Rs 737.78 crore to Gridco which includes bulk supply price of Rs 341.6 crore, securitised dues of Rs 220.56 crore, power bond of Rs 163.45 crore and other dues including transfer scheme receivables of Rs 12.10 crore.
Similarly, Gridco has to recover Rs 796.87 crore from Nesco, Rs 690.19 crore from Nesco and Rs 690.19 crore from Southco.
“Gridco had entered into a shareholders’ agreement with the four distribution companies on April 1, 1999 for a period of five years according to which the discoms would hold 51 per cent equity.
This agreement expired on March 31, 2004 and no new agreement has been made with the discoms”, the minister informed.