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TN discusses with lenders to reduce interest rate for TANGEDCO, to rationalise tariff categories
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SME Times News Bureau | 26 Apr, 2022
Tamil Nadu government is in discussions with the lenders to its power
utility to reduce their interest rate, said the Minister for
Electricity, Prohibition and Excise V. Senthilbalaji.
In
the Energy Department's Policy Note for 2022-23 presented in the
Assembly, Senthilbalaji said the state power utility Tamil Nadu
Generation and Distribution Corporation Ltd (TANGEDCO) is having
accumulated losses to the tune of Rs 1,39,226 crore.
He said the
DMK government has proposed to take measures such as installation of
smart meters, restricting high-cost power purchase and others to
increase the revenue and reduce the expenditure.
The Government
has also initiated discussions with Financial Institutions such as Rural
Electrification Corporation (REC), Power Finance Corporation (PFC),
Tamil Nadu Power Finance Corporation (TNPFC), among others, and
Commercial Banks to reduce the rate of interest to nine per cent,
Senthilbalaji said.
He said TANGEDCO in 2021-22 achieved a
savings of Rs 2,200 crore by measures like improved generation by
optimum operation of the existing generating stations, savings due to
interest reduction, fly ash sale, power swapping arrangements, and
reduction in distribution losses.
In order to meet the revised
environmental norms, it is planned to install Flue Gas De-sulphurisation
(FGD) in all five TANGEDCO owned thermal stations at the estimated cost
of Rs 2,350 crore, he said.
Senthilbalaji also said
rationalisation of tariff categories prevailing at present need to be
initiated as a reform process, so as to improve revenue efficiency in
TANGEDCO.
During 2021-22 the Average Rate of Realisation (ARR)
per unit was Rs 6.96 while the Average Cost of Supply (ACS) per unit was
Rs 8.90.
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