Tamil Nadu Generation and Distribution Corporation’s (Tangedco) outstanding dues to power generation companies jumped 45% to nearly ₹19,000 crore in July 2020 , when compared to about ₹13,100 crore in July 2019.
The dues increased by 5% from ₹18,100 crore in June 2020, according to the data available on Union Power Ministry’s PRAAPTI (Payment Ratification And Analysis in Power procurement for bringing Transparency in Invoicing of generators) portal.
Tamil Nadu has a share of 16% in the total outstanding dues among discoms, after Rajasthan which accounts for 30%.
Out of the ₹12,700 crore outstanding amount owed by discoms in July 2020 alone, only 11% or ₹1,400 crore was paid, according to research firm Emkay Global.
It noted that the payments made to generation companies declined in the first quarter of 2020-21 (April-June 2020). However, it has marginally improved in July and is expected to improve further in the second quarter due to many relaxations announced in lockdown guidelines.
Tangedco has sought ₹30,000 crore as a part of Centre’s ₹90,000 crore liquidity injection package for State distribution companies.
Tangedco would benefit from the recent one-time relaxation to the eligibility criteria for discoms to avail working capital loans under the Atmanirbhar scheme. Power Finance Corporation and Rural Electrification Corporation can lend even beyond the cap of 25% of previous year’s revenue under the scheme.
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