Discoms pulled up for incorrect accounts

DERC had sought a detailed account of revenue generation.

Defaulting discoms BSES Rajdhani and Yamuna,which had recently claimed that they were running into major losses due to lack of a cost-reflective tariff,have been pulled up by power regulator Delhi Electricity Regulatory Commission (DERC) for allegedly showing incorrect accounts.

Last month,the DERC had asked the discoms to submit a detailed account of their monthly revenue generation and expenditure since April 2011,so as to keep a tab on their accounts. Following a detailed study of the audit report,the commission noticed prima-facie unexplained discrepancies in the information relating to power purchase by both BRPL and BYPL.

In an order issued on January 25,the DERC observed that the power purchase cost of BRPL in November 2011 was Rs 648 crore,while it was Rs 297 crore in April 2011,thus showing an increase of 117 per cent. In the case of BYPL,the power purchase cost in November 2011 was Rs 466.13 crore and Rs 216 crore in April 2011 showing an increase of 116 per cent.

We further observed that in case of both the utilities,the power purchase cost during the month shown in one statement and the cash flow statements do not match. In addition to this,information on power purchase was not given in the format prescribed for April to December 2011, the order stated.

The two discoms have been directed to submit a reply to the order by February 2.

A BSES spokesperson said,We have already made a detailed submission to the DERC regarding the financial package being worked out by the IDBI-led consortium of banks. Both the promoters have already pledged fresh equity infusion…

We have submitted a detailed affidavit before the DERC on the issue. We stand by our data. The DERC is yet to respond, he said.

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Discoms pulled up for incorrect accounts

DERC had sought a detailed account of revenue generation.

Discoms pulled up for incorrect accounts