New Delhi, May 6 (UNI) The discoms today denied reports of their earning profit in the year 2009-10 and demanded from the Delhi Electricity Regulatory Commission (DERC) to provide them 'cost reflective tariff' so that their losses can be minimised.
A day after the reports of discoms (private power distributioncompanies) earning 'healthy surplus' emerged in the media, NorthDelhi Power Limited, BSES Yamuna Power Limited and BSES RajdhaniPower Limited today called upon a press meet to clarify how it wasbeing misinterpreted as the truth was that they were actuallyrunning into losses.
NDPL CEO Sunil Wadhwa explained, ''The figures were based on the accrued accounting system which included the yet to be recoveredrevenue through future tariffs to be fixed by DERC.''
The Rs 716 crore profit by NDPL during '09-10 included Rs 671 crore which were yet to be recovered. Thus, only Rs 45 crore is available with us to meet other expenses including employee costs and arrears paid for sixth pay commission, repair and maintenance expenses incurred, repayment of loans, interests and income tax, Mr Wadhwa said.
Replying to a question that what they want to communicate to the government, Mr Wadhwa stated, ''It is my duty to tell people that these could be the consequences and I would be grateful if you could tell me how to run this company at current tariff.''
Saying that due to non-completion of power projects on time, BYPL CEO Ramesh Narayanan said, ''We are buying expensive power from other distributors so that we can provide 24 hour power supply to our consumers.'' ''And we had a clear-cut instructions from DERC to buy power at higher rate,'' he added.
''The cost of purchasing of power for us was Rs 3.19 per unit but the tarrif given to us by the DERC was Rs 2.45 per unit. Based on Rs 2.45 per unit they are saying we have earned profit but we have actually spent Rs 3.19 per unit,'' Mr Narayanan said.
Demanding that the tariff should be cost reflective, he said ''if the government pay us on the basis of cost incurred by us then there would be no problem.''
''We have no money. We have it only on papers and the generator of power would not supply power on the basis of papers,'' the BYPL CEO stated.
Saying that it is difficult to run companies on present tariff, he asserted optimism that the government would definitely hear their plea and something would certainly be done in this regard.
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