CM steps up efforts, power crisis looms

Dec 24, 2011 |

AGE CORRESPONDENT With agency inputs

New Delhi

Upset over BSES’ failure to pay `3,000 crores to power generation firms including NTPC, chief minister Sheila Dikshit has taken the matter to Prime Minister Manmohan Singh apprising him of the situation.
Ms Dikshit said she will also brief Union power minister Sushil Kumar Shinde about the power crisis looming over the city in the wake of various power generation firms threatening to cut power supply to BSES for failing to pay dues.

“I already met the Prime Minister. We are holding detailed deliberations on the issue. We will take opinions of Union power ministry also before taking a final decision,” she said when asked about the issue.
Ms Dikshit said she apprised the PM about the situation when she called on him on Wednesday.
Delhi’s power regulator DERC on Thursday set a deadline of December 27 for the Delhi government to clear its stand on how a whopping `3,000 crores would be arranged to pay the power generation firms if the license of BSES to operate in the city was cancelled for defaulting on the payment.
The NTPC has threatened to cut supply of 2,000 MW of power to BSES if it fails to pay dues by January 7. If the NTPC stops supply of power to BSES, then it may lead to a blackout in 70 per cent of the areas in Delhi.
Sources said the BSES has informed the Delhi government that it was ready to infuse fresh equity to the tune of around `500 crores and requested the government to do the same so that around `1,000 crores could be generated which then could be used for getting a loan of `5,000 crore. The BSES had approached IDBI Bank and Power Finance Corporation for a loan of `5,000 crores but was told to arrange at least 20 per cent of the loan amount (`1,000 crores) on its own to get the loan.
The DERC had slapped notices on BSES on November 25 asking why its license should not be suspended for failing to clear dues to generation companies and said if not satisfied with its reply, it may suspend the license and appoint an administrator to discharge the functions of the licensees.

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