BSES says that at current tariffs in Delhi, it could not cover current costs; Adds that old recoverables have accumulated up to Rs 210 bn
Pulling up Reliance Infrastructure Ltd’s subsidiary BSES Yamuna Power Pvt Ltd, the Supreme Court today directed it to pay 2.57 bln rupees it owes to power generating and transmitting companies by Jul 15.
The apex court asked the BSES Yamuna to pay the bills generated between Jan 1 and Jun 30 and were admitted by BSES as its liability towards power generating companies. The court said it will later decide the controversy on pre-January 2014 arrears owed by BSES Yamuna Power Pvt Ltd and BSES Rajdhani Pvt Ltd towards power generating companies, as well as the amount claimed by BSES from Delhi Electricity Regulatory Commission.
“We find no reason, no justification why you (BSES) should not be asked to pay. This is too much actually. We are not asking you to pay earlier arrears. We are asking you to pay present bill of Jan 1 onwards only. It is surprising, even in July you have not really paid,” a bench headed by Chief Justice R.M. Lodha said.
Reliance Infrastructure Ltd’s Delhi power distributor arm BSES Yamuna Power Ltd said it was “actively exploring” various avenues to make payments as directed by the Supreme Court.
Before the court passed the orders, power generating companies told the court that BSES Yamuna owed a total of 4.1 bln rupees for the period of Jan 1 to Jun 30.
BSES Yamuna’s counsel, however, later presented a chart showing bills worth 2.57 bln rupees to which company admitted to.
BSES told the court that as per court’s earlier order, the company had cleared dues of NTPC Ltd to the tune of 8.06 bln rupees till Jun 30. BSES also claimed that Delhi Electricity Regulatory Commission owed 55 bln rupees in form of approved regulatory assets and that money should be allowed to BSES before it is asked to pay dues to power generating companies.
The Court, however, rejected the plea saying it was only asking BSES to pay the current dues of Jan 1 to Jun 30 and other issues will be decided later.
Damodar Valley Corp and NHPC told the court that BSES’ total dues including pre-January 2014 dues would be 18 bln rupees and 1.08 bln rupees respectively. The court will now hear the case after two months.