Tamil Nadu

Tangedco among 27 discoms to be barred from trading on exchanges for non-payment of dues

Tangedco is one of the 27 discoms across 13 States to be restricted from trading on power exchanges on account of non-payment of dues.

The Power System Operation Corporation on Thursday told three power exchanges — India Energy Exchange, Power Exchange India Limited and Hindustan Power Exchange — that buy and sell transactions in all the products of the power market shall be entirely restricted till further notice from the power delivery date on August 19. The action is based on the Electricity (late payment surcharge and related matters) Rules, 2022 notified by the Centre in June.

As on August 17, Tangedco had dues of ₹924.81 crore according to PRAAPTI portal, under the Ministry of Power. “The portal didn’t give us time to react, which we had asked for. In 2-3 days, the payment will be made and it is only to the tune of ₹228 crore. So, it may not affect us much,” a senior official from Tangedco said.

According to information on the State Load Despatch Centre, the morning peak demand on Thursday was 14,804 MW. Tamil Nadu saw an all-time high demand of 17,563 MW on April 29, 2022.

Experts said that with the wind season going to end and the demand set to increase in the upcoming festive season, Tangedco should resolve the issue to avert a crisis.

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Printable version | Aug 20, 2022 8:42:32 am | https://www.thehindu.com/news/national/tamil-nadu/tangedco-among-27-discoms-to-be-barred-from-trading-on-exchanges-for-non-payment-of-dues/article65785099.ece