PSPCL stares at Rs 450 crore loss

Patiala, March 27

The spread of Covid has hit the power sector badly with the 21-day lockdown estimated to cause roughly over Rs450-crore loss. Already under losses, Punjab State Power Corporation Limited (PSPCL) is suffering about Rs20 crore per day loss due to the steep fall in demand and fixed charges to be paid to the private thermal plants despite not using the power produced by them.

With Covid resulting is closure of shops and industry, the power demand has gone down. Further with debts and salaries of staff to be paid, the PSPCL is looking at the state government to release subsisting amount and also writing to the Centre to delay the payment of railway fare for coal and other charges.

“The PSPCL has made arrangements for power availability and has mobilised sufficient manpower to maintain the system. As Punjab has declared deferment of payment of electricity bills, the PSPCL has requested the Finance Department to release subsidy payment on priority,” said PSPCL CMD Baldev Singh Sran. — TNS