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Punjab government released an additional Rs.309 crore to PSPCL for power purchase : A Venu Prasad*

 

*Punjab government released an additional Rs.309 crore to PSPCL for power purchase : A Venu Prasad

Patiala July 6,2021
Patiala
*CMD PSPCL Sh. A Venu Prasad disclosed that PSPCL has received an additional amount of Rs.309 crore from Punjab government during current paddy season to purchase power from the open market to mitigate the immediate surge in power demand due to continued dry spells in the state.*

*CMD said that on 5th July, PSPCL has supplied 3022 lac units of power supplied to various consumers in the state touching a maximum demand of 13,162 MW*.
*He said that PSPCL has purchased 1080 MW of power from power exchange at the rate of Rs.3.98 per unit. He said that the power purchase has been made due to the failure of second unit of Talwandi sabo thermal plant at Mansa. He also said that despite the generation loss, PSPCL has managed to meet the power requirement of domestic and agricultural consumers of the state.*
*CMD told that to resolve citizens’ concerns particularly during paddy plantation and this scorching heat, PSPCL have directed their field officers and staff to regularly interact with the consumers and public at large and to resolve their concerns on top priority without any type of laxity. He said that special monitoring cells have been created, which are working day and night for the service of consumers.*
*Sh. A. Venu Prasad also appealed to consumers to use PSPCL Consumers Services App to lodge their supply related complaints and to track its status.*

*CMD disclosed that PSPCL is carrying out a number of initiatives and revealed that during 2020-21, PSPCL, with massive perseverance, has managed to renegotiate various high interest loans, availed from Banks/Financial Institutions in the past, when interest rate used to be higher, with low interest loans and has successfully secured huge interest saving to the tune of Rs.530 crore to the state Exchequer during the loan term.*
*He further that PSPCL has restructured high cost long-term/ medium-term/ short-term loans worth Rs.10,112 crore.*
*Sh.A.Venu Prasad further added that PSPCL managed to earn rebate to the tune of Rs.150 crore during financial year 2020-21 against payments towards power purchase, by effectively and efficiently handling its working capital funds, by adopting various focused funds management techniques.*

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