HomePunjabAdvance electricity payment scheme proving to be a boon for PSPCL

Advance electricity payment scheme proving to be a boon for PSPCL

Advance electricity payment scheme proving to be a boon for PSPCL

Kanwar Inder Singh/ royalpatiala.in/ Chandigarh

In recent days, the banks have reduced the interest rates on Fixed Deposits (about 6% p.a.) as well as on Savings Accounts (about 3.5%). In order to help the consumers earn a better rate of return, PSPCL has recently launched a scheme to offers its consumers of all categories to make advance payment towards their estimated electricity bills upto March 2021 to the extent they can through digital modes and earn interest @1% per month on advance payment as per Clause 31.8 of Supply Code, 2014.  Thus consumers will earn interest almost at 12% per annum i.e. double the rate of interest on fixed deposit.

This offer has received a resonating  response from consumers of all categories as PSPCL has received advance payment of Rs. 35 Crores. Prominent among them, M/s. Oasis Enterprises (Rs. 10 crores), M/s. STELCO Industries Pvt. Ltd. (Rs. 7 Crores), M/s. Veekay Concast (Rs. 5 crores), M/s. Arishudan Ind. Ltd (Rs. 4 Crores) M/s. Vardhman Adarash Ispat Pvt. Ltd. (Rs. 3 crores), M/s. Waryam Steels (Rs. 2 crores) are major contributors.

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CMD PSPCL Er.Baldev Singh Sran said that the corporation  is indebted and grateful to its esteemed consumers who have come forward to deposit advance bills of Rs. 35 Crore at the call of PSPCL. This shall provide much needed liquidity to PSPCL in the hour of crisis of scarce financial resources and also help consumers to earn handsome returns on their deposit.

It is a win-win situation as in case of delay to pay power generators,  PSPCL has to pay 12% per annum as a late payment surcharge which can now be paid to consumers who would get almost double the interest being offered for fixed deposits.

Er. Sran appealed to other consumers to help PSPCL sustain these difficult times and to avail this golden opportunity to earn extra interest. Make advance payment at PSPCL bill portal i.e. https://billpayment.pspcl.in/



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