Power surcharge in Delhi has now been hiked - the rates have gone up from 6 to 8 percent depending on which distribution companies delivers power. This will effectively take power tariffs higher.
We supply power 24/7 to our consumers. There is no power cut or no load shedding in our area and our availability is 99.6 percent
Praveer Sinha
CEO
TPDDL
It's a major setback for Arvind Kejriwal's Aam Admi Party government in Delhi . Just a few hours after power companies said parts of Delhi will face power cuts of 8 to 10 hours starting next week as they do not have funds, the regulator has stepped in.
Power surcharge in Delhi has now been hiked - the rates have gone up from 6 to 8 percent depending on which distribution companies delivers power. This will effectively take power tariffs higher.
The Delhi government has not taken kindly to the decision of the DERC (Delhi Electricity Regulatory Commission) to hike tariffs from February 1.
The government condemns the DERC decision and finds it completely uncalled for, since an audit by the Comptroller and Auditor General (CAG) into the accounts of private
distribution companies is already under progress. The government is of the clear view that the DERC should have waited for the audit report of the CAG and there was no need of showing a tearing hurry to impose this unnecessary burden on the people.
However, PD Sudhakar, chairman, DERC said that surcharge is reviewed every quarter as per the orders of the Appellate Tribunal on the basis of the surcharge imposed by the generation companies like NTPC .
"Delhi government has not said anything to us on this. This is as per the orders of the Appellate Tribunal which is the final deciding authority. Every quarter a review is done and whatever is the actual, it may be sometimes zero also, it may be 2 percent, it may be 5 percent. So, depending on whatever is the actual claim of the NTPC and other generation companies," he added.
Echoing Sudhakar's comment, Praveer Sinha, CEO TPDDL said the hike in power surcharge is part of the tariff orders that allows any increase in a quarter of power purchase adjustment to be passed through.
In the October-December quarter, the power purchase cost from NTPC and the Delhi genco's and other generating plants have gone up by nearly 10-12 percent. Against that DERC has allowed increase of 6-8 percent for various discoms. For us they have allowed 7 percent, he added.
Sinha further added that if in the next quarter power cost is reduced by NTPC or other generating companies then the cost will go down. This is a pass through mechanism which is applicable in all the states as well as allowed by the appellate tribunal, he said.
On CM Kejriwal's blackmailing comments, Sinha said that his company has not defaulted in any payments. "We supply power 24/7 to our consumers. There is no power cut or no load shedding in our area and our availability is 99.6 percent. To that extent, there are no issues as far as Tata Power Delhi Distribution is concerned," he said.
NTPC stock price
On January 31, 2014, NTPC closed at Rs 126.40, down Rs 1.7, or 1.33 percent. The 52-week high of the share was Rs 162.80 and the 52-week low was Rs 122.65.
The company's trailing 12-month (TTM) EPS was at Rs 14.87 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 8.5. The latest book value of the company is Rs 97.49 per share. At current value, the price-to-book value of the company is 1.30.
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