SJVNL gives Rs 21.67 Cr rebate for timely power purchase payments

Shimla: For timely meeting commercial obligations from billing raised by 1500 MW Jhakri plant, SJVNL has handed out a rebate of Rs 21.67 to power utilities for the year 2009-10.

In all 10 power utilities that were given rebates, were honoured at a simple function of the Northern Region Power Committee (NRPC) meeting held earlier in the week at Kandaghat, said an SJVNL spokesman.

The highest beneficiary was the government of Himachal Pradesh, which has a 25% equity in the company.

While the HP government was given a rebate of Rs 8.21 crore, Punjab State Power Corporation (PSPCL) was given a rebate of Rs 3.99 crore and the Uttar Pradesh Power Corporation (UPPCL) got a rebate of Rs 2.48 crore, said the spokesman.

SJVN is one of the first companies to hand out rebates for timely payments made towards power purchased for a plant.

Other power users who participated in the meeting included the states of Rajasthan, Delhi, Uttarakhand, Haryana, and NTPC, NHPC, THDC, Power Grid and BSES.

At the meet, commercial issues related to opening of letter of credit facilities for ensuring timely payments for unscheduled interchange (UI) charges under new UI regulations were discussed and resolved.

NRPC and Northern Region Load Dispatch Centre (NRLDC) were also honoured by HK Sharma, CMD of SJVN, for assisting the power station in timely realizing its commercial interests.

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