BSES says it intends to settle its power purchase dues

New Delhi, May 4 (IANS) BSES, one of the private electricity distribution companies in the national capital, on Wednesday said it was all willing to settle the dues of generating companies, but was under financial trouble since thousands of crores were locked up due to regulatory issues.

“BSES is under huge financial stress due to non liquidation of regulatory assets estimated to be over Rs.16,000 crore as on March 31, 2016. As compared to this, dues payable by BSES to NTPC is around Rs.1,300 crore,” the company said in a statement.

“The payment of dues to power utilities by BSES discoms is sub judice in the Supreme Court. The judgment in the matter is reserved since February 2015,” it said.

“We are awaiting the Supreme Court judgment, which will clear the path for recovery or liquidation of regulatory assets.”

Power distribution companies in the capital have been arguing that since 2002, while the cost of buying power has increased by around 300 percent, on which they have no control, the retail tariff has increased by around 90 percent.

–IANS

ap/pm/

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