Himachal Pradesh has become the 18th State to join UDAY, a central
scheme for revival of debt stressed power distribution companies,
availing a net benefit of about ₹823 crore.
“Government of India signed a Memorandum of Understanding with Himachal
Pradesh and state Discom under the Ujwal Discom Assurance Yojana (UDAY) on Thursday Dec 08,2016, for operational and financial turnaround of the Discom. Himachal
Pradesh is the 18th state to sign MoU under UDAY,” Power Ministry said
in statement.
Benefits
An overall net benefit of about ₹823 crore would accrue to the state by
opting to participate in UDAY, by way of savings in interest cost,
reduction in Aggregate Technical and Commercial (AT&C) and
transmission losses, interventions in energy efficiency during the
period of turnaround.
The State would take over ₹2,891 crore of Discom debt, 75 per cent of
the total Discom debt of ₹3,854 crore as on September 30, 2015, as
envisaged in the scheme.
It also provides for the balance debt of ₹963 crore to be re-priced or
issued as state guaranteed Discom bonds, at coupon rates of 3 per cent
less than the average existing interest rate. The annual saving in the
interest cost to the state would be around ₹140 crore on account of
restructuring of the Discom debt.
Improvements
UDAY not only focusses on bringing about financial turnaround of the
Discoms, but also lays stress on improving their operational
efficiencies.
In order to bring about a sustainable turnaround of the Discom, the
state and the Discom will improve operational efficiency. The reduction
in AT&C and transmission losses to 12.75 per cent and 3.50 per cent
respectively is likely to bring additional revenue of around ₹119 crore
during the period of turnaround.
No comments:
Post a Comment