West Bengal State Electricity Distribution Company Limited (WBEDCL) is likely to miss its power export target, pegged at 3,000 million units this fiscal on account of low generation and market volatility.
Speaking on the sidelines of a conference on power sector distribution reforms organised by Confederation of Indian Industry (CII), Malay Kr De, chairman and managing director, West Bengal State Electricity Distribution Company Ltd (WBSEDCL) said, “We have been able to export only 100-150 million units of power in the first quarter of the current fiscal as against the target of 3,000 million units as set by the State Electricity Regulatory Commission for 2009-10.”
Last financial year, also the company fell short of its export target pegged at 2,600 million units due to various problems.
“The power market is extremely volatile, while prices last week went up to Rs 13 per unit, on Wednesday there was no demand and WBSEDCL could not export a single unit,” Dey said.
De pointed out that at the present distribution tariff WBSEDCL expected a total revenue of Rs 9000 crore in 2009-2010 as against Rs 7,600 crore in 2008-09, although the financial results for 2008-09 were yet to be declared.
The transmission arm of the state electricity board was planning to raise Rs 500 crore through bonds, long-term borrowing, syndicated loans this financial year to fund expansion plans, he informed.
The company is in talks with a couple of banks.
This apart, WBSEDCL is looking at investing Rs 5,000 crore over the next three years, which will be partly funded through government funding and internal accruals.
The company manages Rs 800 crore though internal accruals every year on an avearge. Of the Rs 5000 crore investment plans around Rs 3,000 crore will be spent on rural electrification, Rs 1000 crore on urban and the rest on consumer service upgradation and automation.
