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MahaVitaran has said the revenue gap could met by revising the per unit tariff ranging between 38 paise and Rs 2.86 across consumers, excluding BPL and consumers with a monthly consumption of 0-100 units. The proposed per unit additional energy charges would be over and above the energy charges approved by MERC in its tariff order dated August 16, 2012.
MahaVitaran argued that it be allowed to recover the revenue gap as it was passing through a precarious and critical financial situation due to a delay in revised tariffs for the last 2 years.This had resulted in MahaVitaran availing short term loans from financial institutions and deferring its payments to generators, contractors and employees.
According to MahaVitaran, MERC had allowed its claims while disposing off the review petition of the Tariff Order for FY 2012-13. However, MERC had not allowed immediate recovery of the same, which had been deferred till the exercise of final true up for the year FY 2012-13 was completed. This had put additional burden on MahaVitaran's already depleted financial condition.
Simultaneously, MahaVitaran had also filed another petition informing the state government's decision to reduce 20 per cent tariff for all its consumers according to the cabinet decision taken on January 20.
MahaVitaran had informed the power regulator that the government had agreed to pay Rs 606 crore for February and March and Rs 100 crore would come from the Maharashtra State Power Generation Company (MahaGenco) and the Maharahstra State Transmission Company (MahaTransco). The state government would continue to provide a total of Rs 706 crore till MERC approved the payment of Rs 100 crore to MahaVitaran by MahaGenco and MahaTransco to make up its revenue loss on account of 20 per cent tariff cut. MahaVitaran has already started issuing bills with a 20 per cent subsidy from February.
MahaVitaran has a consumer base of 21.5 million.
