Amidst the present nation-wide lockdown, the power ministry has taken a slew of measures to help the industry. The central generating and transmission companies will give rebates to distribution companies (discoms) for the lockdown period on account of the COVID-19 pandemic.
The Ministry of Power, on Friday, issued a notification two days after Finance Minister Nirmala Sitharaman announced the liquidity infusion of Rs 90,000 crore by Power Finance Corporation and Rural Electrification Corporation to discoms against receivables and loans to be given against state guarantees for the exclusive purpose of discharging their liabilities to power generating companies.
The central generating companies, including their joint ventures and subsidiaries and transmission company, will offer rebate in the form of deferment of capacity charges for power not scheduled, to be payable without interest after the end of the lockdown period in three equal monthly instalments. Further, they will provide a rebate of about 20 per cent to 25 per cent on the power supply billed to discoms and the inter-state transmission charges levied by the Power Grid Corporation of India.
The Ministry of Power has asked the Central Public Sector Undertakings and Power Grid Corporation of India to take necessary action in this regard, including concurrence of the respective board of directors required, if any.
Further, the Ministry of Power said all open access applications will have deemed approval within 30 days and 20 per cent reduction of cross subsidy charge every year. The Central Public Sector Undertakings will be given individual targets.
All agricultural feeders going forward will be on solar through the Kusum scheme so that loss incurred by discoms in lesser revenue or losses will be offset by solar investment. Future supply to generators will be through letters of credit and payment security mechanisms.