Power Crisis: Despite PFC-REC loan, discoms’ dues rise 8% at April-end

Discoms cleared payments of Rs 12,361 crore in April in opposition to Rs 38,286 crore in March – they normally pay a bigger portion of the dues within the final month of a fiscal yr.

State-run electrical energy distribution firms’ (discoms’) overdues — pending receivables of 45 days or extra — from personal energy producers elevated 8% on yr to Rs 36,018 crore at April-end, at the same time as their whole overdues stood at Rs 68,330 crore, down 9.6% from a yr earlier.

Receivables from central authorities energy stations fell 39% yearly to Rs 20,978 crore.

Discoms cleared payments of Rs 12,361 crore in April in opposition to Rs 38,286 crore in March – they normally pay a bigger portion of the dues within the final month of a fiscal yr.

Invoices cleared within the month in April was nonetheless 76% greater than the worth of payments paid in April FY21, because of PFC-REC loans obtained by dicsoms below the Rs 1.25-lakh-crore liquidity infusion scheme introduced by the Centre.

Pertinently, the whole pending dues at April-end would have been greater if the disputed invoices of Rs 22,680 crore had been accounted for. The disputed quantity for central authorities owned energy vegetation stood at Rs 1,511 crore whereas for personal energy producers, the identical was a lot greater at Rs 21,157 crore.

In response to the federal government’s Praapti portal, disputed invoices of Adani Power itself had been value Rs 20,582 crore. A lot of the sector’s disputed quantity pertains to varied changes below ‘change-in-law’ provision and late fee surcharges, and are prone to be compensated. “Circumstances for greater than 90% of the disputed quantity have already been adjudicated by the competent authorities and must be paid by discoms,” a senior energy sector veteran informed FE.

Among the many mills which supplied their inputs within the energy ministry’s ‘Praapti’ portal, Adani Energy has the very best pending overdues of Rs 18,608 crore. NTPC’s overdues stood at Rs 5,176 crore whereas the identical for state-run DVC was Rs 5,156 crore. Different personal energy producers to which discoms owed essentially the most as overdues at April-end embrace GMR Vitality (Rs 1,894 crore), Tata Energy (Rs 2,486 crore), Jindal Metal and Energy (Rs 1,517 crore) and Sembcorp (Rs 2,365 crore).

Main states which owed the very best to energy mills at April-end are Maharashtra (Rs 9,749 crore), Tamil Nadu (Rs 13,717 crore), Rajasthan (Rs 10,326 crore), Uttar Pradesh (Rs 6,062 crore) and Jharkhand (Rs 4,619 crore). In response to ICICI Securities, as a lot as Rs 75,555 crore had been disbursed to the states by March-end below the PFC-REC scheme, and all of the above states besides Jharkhand had been among the many bigger beneficiaries of the mortgage, with Maharashtra receiving Rs 2,500 crore, Tamil Nadu Rs 14,700 crore, Rajasthan Rs 2,032 crore and Uttar Pradesh Rs 27,9740 crore.