Power corp’s fiscal deficit down to Rs 2,100 crore
Tariff hike for next year likely to be less than 10 per cent
Tribune News Service

Patiala, December 1
Punjab State Power Corporation Limited (PSPCL) has submitted its annual revenue requirement (ARR) to the Punjab State Electricity Regulatory Commission (PSERC) for the fiscal 2013-14. "The revenue deficit for the year 2013-14 stands at Rs 2,100 crore," said PSPCL CMD KD Chaudhri.

To meet the deficit, the corporation will hike power tariff by up to 10 per cent. Notably, for 2012-13, PSPCL had sought a 55 per cent hike in power tariff in its ARR. But, the commission had increased the tariff by 12.08 per cent.

Sources in the PSPCL said while the revenue deficit for 2012-13 was Rs 3,200 crore, the same would be Rs 2,100 crore for the next fiscal. "For the fiscal ending March 2011, PSPCL had suffered a financial loss of Rs 1,600 crore. The same came down to Rs 240 crore in the fiscal ending March 2012, which is a big achievement," said Chaudhri. The reduction in the loss has helped in bringing down the revenue deficit.

Since the ARR will be made public only after completion of the laid down procedure, the break-up of revenue and expenditure could not be ascertained. The PSERC will put the ARR details on its website in a couple of weeks and will also ask the public to file objections, if any.

AWARD FOR PSPCL

The Council of Power Utilities has awarded PSPCL for achieving the highest reduction in transmission and distribution (T&D) losses in the country. PSPCL CMD and Director (Distribution) KD Chaudhri and Arun Verma, respectively, received the award at a ceremony in New Delhi on Friday. The corporation had recorded a reduction of 2.52 per cent T&D losses in tw