States Issue Rs 2.32 Lakh Cr Bonds Under UDAY

States Issue Rs 2.32 Lakh Cr Bonds Under UDAY

New Delhi, Jun 30 () States have issued bonds worth Rs 2.32 lakh crore under the UDAY scheme meant for revival of discoms.

The power ministry had launched UDAY scheme for revival of the debt ridden power distribution utilities in November, 2015.

As per the scheme, total liability opted for restructuring by the states through issuance of bonds was Rs 2.69 lakh crore, covering 15 states.

States have issued bonds worth Rs 2.32 lakh crore covering 86 per cent of the debt (to be taken over by them) so far under UDAY scheme, a latest review of power ministry stated.

As on September 30, 2015, total debt of all state owned DISCOMs was Rs 3.95 lakh crore. The 26 states and 1 UT which have joined the UDAY scheme account for total outstanding debt of Rs 3.82 lakh crore. Thus as much as 97 per cent of the total outstanding debt of all state DISCOMs has been covered under the UDAY.

Under the scheme, states were required to take over 75 per cent of discoms debt and issue bonds for writing off those loans. The discoms are required to pay remaining 25 per cent of the debt by issuing bonds.

The review of Haryana under the scheme by the ministry found that AT&C (aggregate technical and commericial) loss has come down to 25.9 per cent in 2016-17 from 29.8 per cent in 2015-16.

Besides, the power purchase cost (in Rs per kWh) has reduced to 5.01 per unit in 2016-17 from 5.05 in 2015-16.
The DHBVN or Dakshin Haryana Bijli Vitran Nigam — one of the two state power distribution companies of Haryana — has not just been able to completely wipe out its losses for the first time but has also posted a profit of Rs 78 crore in the first half of 2016-17.

READ  India: NTPC Closes In On 1 Gw Renewable Goal

Similarly, Tamil Nadu has also reduced AT&C loss to 14.53 per cent in 2016-17 from 20.39 per cent in 2015-16. The gap between Aggregate Rate of Realisation (ARR) and Aggregate Cost of Supply (ACS) is also reduced to Rs 0.36 (Rs/kWh) in FY 2016-17 from Rs 0.6 (Rs/kWh) in FY 2015-16.

As per state government, Tamil Nadu DISCOM – TANGEDCO is expected to break even during 2017-18 after a long gap of 15 years

In case of Rajasthan, the AT&C loss has come down to 23.6 per cent in 2016-17 from 27.3 per cent in 2015-16. The gap between ARR and ACS reduced to Rs 0.5 (Rs/kWh) in 2016-17 from Rs 1.68 (Rs/kWh) in 2015-16.

Uttar Pradesh’s AT&C loss has come down to 30.21 per cent in 2016-17 from 33.84 per cent in 2015-16. The gap between ARR and ACS reduced to Rs 0.66 (Rs/kWh) in 2016-17 from Rs 0.88 (Rs/kWh) in 2015-16.

 

 

Source Link – The Times of India

Leave a Reply

Your email address will not be published.