Uttar Pradesh DISCOMs Owed the Highest Dues to Power Generators in June

State power distribution companies (DISCOMs) owed power generators ₹722.44 billion (~$8.64 billion) in total dues for the monthly billing cycle in June 2024, according to the Ministry of Power’s payment ratification and analysis portal PRAAPTI.

The current outstanding dues, excluding the latest monthly dues, are ₹292.23 billion (~$3.49 billion).

The overdue before the trigger date is ₹289.07 billion (~$3.45 billion), after which the amount will increase by ₹3.16 billion (~$37.82 million) as the late payment surcharge (LPS) would apply.

The trigger date is one month after the due date of payment or two and a half months after the presentation of the bill by the generating company, whichever is later.

The DISCOMs are allowed to pay the outstanding amount in up to 48 installments.

Uttar Pradesh DISCOMs had the highest dues at ₹98.89 billion (~$1.18 million), followed by Maharashtra at ₹94.94 billion (~$1.13 billion) and Tamil Nadu at ₹88.48 billion (~$1.05 billion).

The recently published twelfth annual integrated ratings of DISCOMs recorded significant financial and operational performance shifts. Of the 55 DISCOMs evaluated for the financial year 2023, 17  improved their grades, while 14 were downgraded.

Fourteen DISCOMs achieved an A+ grade compared to 10 last year. Six of these top DISCOMs are from Gujarat, three from Odisha, and two from Haryana. Eight of these top performers are privately owned companies.

Last December, the Ministry of Power proposed regulating short-term and general network access for DISCOMs who fail to clear their dues after two and a half months by amending the Electricity (Late Payment Surcharge and Related Matters) Rules 2023.

The ministry highlighted in its year-end review that the Aggregate Technical and Commercial (AT&C) losses of DISCOMs decreased to 15.41% in the financial year (FY) 2022-23 from 17% in FY 2021-22. The ministry attributed the improvement to the various measures taken under the Revamped Distribution Sector program.

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