Outstanding dues of power distribution companies towards gencos declined sharply to Rs 713.29 crore on Friday from Rs 5,085.30 crore as of August 17 following a strict action against defaulter utilities. The defaulter utilities were barred from trading at power exchanges under the Electricity (Late Payment Surcharge and related matters), Rules 2022 notified by the power ministry in June 2022. Last month, the national grid operator Power System Operation Corporation Ltd (POSOCO) asked three power exchanges -- IEX, PXIL and HPX -- to restrict electricity trading by 27 discoms in 13 states having outstanding dues towards gencos. The latest update regarding late payment surcharge dues on PRAAPTI portal showed that three discoms in Karnataka and one in Jammu & Kashmir have total outstanding dues of Rs 713.29 crore on September 16, 2022. The outstanding dues were Rs 5,085.30 crore on August 17, 2022.

Source: Economic Times September 19, 2022 00:46 UTC