PSEB likely to be unbundled into three companies
Punjab Newsline Network
Sunday, 04 April 2010
By Vinod Kumar Gupta
CHANDIGARH: The Punjab State Electricity Board is likely to be split into three companies before the present deadline of April 15 expires.

According to sources, three companies will be carved out of PSEB. There will be one generation company, one company to look after transmission and distribution works and one holding company.

The process of registration of new companies is likely to be completed in next few days .After this Government will issue necessary notification to un-bundle the PSEB.

PSEB engineers were stressing for formation of single company to look after generation transmission and distribution works as it was possible in view of judgment of Appellate tribunal for Electricity. A separate trading company could be carved out to meet the provisions of Electricity Act 2003.

According to sources government sought legal views on the proposal from highest authority and it was clarified that proposal to convert board in to single company was not legally tenable. The views of government were conveyed to many of the stakeholders.

PSEB management has yesterday cancelled the leaves of all administrative heads to meet any exigencies. A General Manager of thermal plant was called back from Delhi airport as he was proceeding for sanctioned LTC. Chief engineers in the distribution and thermal plants held meeting with their superintending engineers to discuss the unbundling process.