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On Thursday, a bench headed by Justice S S Nijjar asked the companies to sit together and find out a solution to the problem arising out of non-payment of dues. It posted the case for hearing on May 6. "The cost of buying power has risen at least 300% in the past 10 years while the retail price has gone up only by less than 70%. There needs to be a revision in the prices and banks are not willing to lend to power companies now," an official at BSES said on condition of anonymity.
An NTPC executive meanwhile said the two BSES distribution companies owed Rs 793 crore till Thursday and after including Rs 500 crore monthly billing, the bill came close to Rs 1,300 crore. "Tata Power Delhi Distribution Ltd (TPDDL) have been paying their dues on time to the company," said the executive.
"BSES caters to 70% of the needs of Delhi. Tata will also feel the pinch of not raising prices in the next few months," the BSES official said.
Delhi Electricity Regulatory Commission (DERC) had earlier submitted a road map for recovery of the arrears for BSES companies suggesting a 8% surcharge to recover. The authority also pointed out that the accounts of BSES needed to be vetted closely as the figures appeared inflated.
