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NEW DELHI : The covid-19 pandemic continues to have a wider impact on the country's power sector in the current financial year with poor financials of the discoms preventing it from clearing accumulating dues to generation companies.
According to analysts, even though power demand picked up pace as economy started recovering post the second covid wave, lack of reforms at the state level for improving the financial parameters of state discoms has again prevented them from clearing their dues to generators resulting in the power sector overdues beginning to see a rise again.
As per power ministry data, thediscoms' dues to gencos had risen to ₹93,609 crore at the end of October, 2021 moving closer to about ₹99,637 crore overdues that existed in October, 2020.
While the special ₹90,000 liquidity scheme announced for discoms by the Centre last to clear dues towards generation companies helped in bringing some level of balance on the overdue situation, absence of any scheme this year, is adding fresh problems the discoms.
The power ministry data suggests that out of the total discom overdues, share of independence debt power producers it the highest at 54 per cent or over ₹50,000 crore. Renewable energy projects are also facing large scale delays in their payment and their share in total discounts overdue at the end of October is 20 per cent or close to ₹20,000 crore while central public sector’s overdue amount constitutes 26 per cent of the total discom overdues at need of October 2021.
Tamil Nadu, Jammu and Kashmir, Karnataka, Jharkhand and Telangana are the top five states in terms of overdue to central generating stations. Tamil Nadu owes CPSEs close to ₹7,000 crore to CPSEs.
Among the independent power producers (IPPs) the largest discoms overdue is towards Adani Power with dues of close to ₹25,000 crore at the end of October 2021. Discoms owe Lalitpur Power Generation Company about ₹4,500 crore.
Dues to green power generators have also seen a rise with Andhra Pradesh discoms owing over ₹6,000 crore to them while Tamil Nadu and Telangana disconsolate owing another ₹3,000 and ₹2,000 crore respectively.
Dues of IPPs and renewable energy gencos have risen by 30 and 40 per cent respectively in October 2021 as compared to the same month last year. The dues of CPSEs have, however, seen a 50 per cent decline in the same period as governments liquidity efforts benefited them the most.
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