In his address to the Assembly, Lt Governor Najeeb Jung said CAG audit of the private companies is being carried out to ascertain their financial position and the firms must cooperate with it.
"A CAG audit of electricity companies is being carried out since power distribution was privatised. Licences of those who do not cooperate in the process may be cancelled," Jung said. Power distribution in Delhi was privatised in 2002.
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He said will not be a "silent bystander" on the issue and will not hesitate to take decisions.
The Arvind Kejriwal-led Delhi government last week had ordered a CAG audit of the finances of the three power companies -- BSES Yamuna Power Ltd, BSES Rajdhani Power Ltd and Tata Power Delhi Distribution Ltd.
The companies have strongly opposed CAG scrutiny of their accounts.
Jung said government was also committed to checking the electricity meters as there has been complaints of fast running meters.
In his address, Jung promised to bring reform in governance and said bridging the chasm between the citizens and government would be among the top priorities.
"Government will put an end to all symbols of privilege and power that distance the citizen from the government. No minister or MLA will use a red beacon on their cars. Special security will be avoided.
"We intend to take all steps to end corruption in government departments. Passing the version of Lokpal Bill for which Anna Hazareji had to undertake a fast will be a priority for the government," said Jung.