With power utility not proposing to sell or utilise surplus power, electricity regulator PSERC has worked out a whopping Rs 2,189 crore as financial impact for surrendering excess energy, asking PSPCL to sell it to reduce fiscal burden on power consumers.
As per the electricity tariff order for 2015-16 which was announced today, state owned power utility Punjab State Power Corporation Limited (PSPCL) has projected 15,383 million units of surplus power from central generating stations and independent power producers (IPP) in the state for 2015-16, which is to be surrendered.
The power utility has not submitted any proposal to either utilise or sell this additional energy available within or outside the state, according to the order.
It has also not calculated the financial burden of surrendered power in the annual revenue requirement (ARR) for 2015-16, it said.
However, regulator Punjab State Electricity Regulatory Commission (PSERC) has worked out the financial impact of surrendered power on the basis of data supplied by PSPCL in the annual revenue requirement at Rs 2,189 crore as fixed charges during 2015-16.
Asking the power utility to sell surplus power at best possible rates, the regulator noted that PSPCL's endeavor should be to reduce the burden of fixed charges on consumers of the state.
"Sincere efforts should be made to sell the surplus power at reasonable rates to reduce the burden of fixed charges on consumers of the state," the order said.
In the ARR for 2015-16, PSPCL had pegged power purchase cost at Rs 11,488 crore for buying 26,917.66 MUs.
Out of that, PSPCL had proposed to buy power worth Rs 4,761 crore from new private thermal power plants - Talwandi Sabo, Rajpura thermal and Goindwal Sahib plant.
