State-run NTPC has withdrawn notices issued to power distribution companies BSES Rajdhani and BSES Yamuna after the Anil Ambani group entities gave an assurance that all dues would be cleared by March next year.
The settling of the issue between NTPC and BSES comes as a major relief for 28 lakh consumers being catered to in the National Capital.
"BSES Rajdhani Power [BRPL] and BSES Yamuna Power [BYPL] have given a written assurance to NTPC that they are going to unconditionally restore the Letter of Credit [LC], clear the balance outstanding dues and also undertake to pay the arrear bills in six equal installments before March 2012," NTPC said in a statement.
With this assurance, NTPC has decided to recall the regulation notice served on the two companies.
NTPC had slapped notices on two discoms -- BSES Rajdhani and BSES Yamuna -- cautioning that power supply could be stopped by September 7, if the two companies fail to clear their combined dues of more than Rs 900 crore.
The notices asked the two BSES companies to renew their Letter of Credit or supply could be suspended.
Yesterday, BSES had said it would clear the outstanding dues by today. "The current dues of NTPC will be cleared by Monday, September 5, 2011. This will ensure no power disruption for our 28 lakh customers," a BSES spokesperson had said yesterday.
Sources said that out of the current dues of Rs 80 crore, Rs 20 crore was already paid by BSES and the remaining amount of about Rs 60 crore is being paid today.
The bill of around Rs 425 crore for the month of August would be paid by end of September. The arrear bill of about Rs 400 crore would be paid in six instalments by March 2012, they said.
The arrear bill are related to payments since 2009 and the related bill was received by BSES on August 5, they added.
NTPC supplies about 2,051 MW of power to the BRPL and BYPL, accounting for over 70% of the electricity supply in Delhi.
BRPL supplies power to the West and the South Delhi areas while BYPL caters to the East and Central Delhi areas.
As per the separate but similarly-worded notices served on BRPL and BYPL, NTPC had pointed out that if BRPL and BYPL do not renew and maintain the LCs, supply of power to the discoms would remain "suspended till December 1, 2011".
"Unless the issue is settled on a war-footing basis, licenced areas of BRPL and BYPL will see huge power cuts, with effect from September 7, 2011," NTPC sources had said on Friday.
