DPCL gets windfall of Rs 900.50 cr

New Delhi, Nov 6 (UNI) A holding company of Delhi government in power sector, Delhi Power Company Ltd is now rich by Rs 900.50 crore.

This was thanks to the reform process undertaken by Delhi government by which private power distribution companies -- BRPL and BYPL -- had pre-paid the entire loan amount of Rs 690 crore and Rs 174 crore respectively to DPCL along with interest of about Rs 36.50 crore.

As per the provisions of a transfer scheme, part of the distribution assets had been converted into long-term loans and this loan was to be re-paid in 13 years to DPCL from the date of transfer, July 1, 2002. The transfer scheme also had a provision for pre-payment by Discoms.

BSES had decided to pre-pay the entire loan by swapping higher interest loan with lower interest rate, the benefits of which would be passed on to the consumer.

This refund of Rs 864 crore with interest of about Rs 36.50 crore by BSES (BRPL and BYPL) to Delhi Power company had added to the resource generation in power sector of the city.

This amount could now be used for fuelling the growth and development of power infrastructure projects, which would further enhance the pace of reform process.

This early pre-payment of huge amount of Rs 900.50 crore was an achievement of the power sector reforms undertaken by the state government.

UNI IP KR RN2016