After 2 months PSPCL gets four figure power subsidy from state government to fill its coffers
Kanwar Inder singh/ royalpatiala.in News/ January 4,2025
Punjab govt has paid Rs 13,233.26 crores as power subsidy to the Punjab state power corporation limited (PSPCL) from April 1,2024 to December 31,2024. Out of these Rs 13,233.26 crores, Rs 6729.07 crores are for AP (agriculture) subsidy, Rs 4919.20 crores for domestic consumer (DS) subsidy and Rs 1584.99 crores for industry subsidy.
In the month of December the state government has released Rs 1332 crore as against Rs. 700 crore on November and Rs 350 crore. PSPCL has got the lowest power subsidy in the third quarter. In the first quarter the powercom had received Rs 6129 crores, in the second quarter it had received Rs 4722.26 crores and in the third quarter the state government has released Rs. 2382 crores as power subsidy to the PSPCL.
In the month of October 2024, Powercom had received the lowest power subsidy in the recent times. The state government had released Rs 350 crore only.
“For 2024-25, the power subsidy payable by the Punjab Government has been assessed at Rs.21910 crores. As per the schedule the powercom has to receive Rs 11,000 in the first two quarters and Rs 10,000 for the next two quarters. Out of Rs 11000 crores, Punjab govt had released 10,851.26 crore which is almost the full amount committed by the state government. But with the break in the chain, the powercom has received a lesser power subsidy in the third quarter, which has created financial mess in the powercom ” said a senior functionary of the Punjab state power corporation limited (PSPCL) on the condition of anonymity.
As per reports, “2024-25 has been assessed at Rs.46383 crores and powercom annual income at the current rates will be Rs.47940 crores. The main component of ARR is power purchase cost which has been assessed at Rs.30062 crores followed by employees’ expenses of Rs.7281 crores. The transmission charges payable to PSTCL are Rs.1651 crores” said another officer on the condition of anonymity.
In the current fiscal years first four months the state government has released more subsidies viz-a-viz last year during same period. But the next two months, the subsidy amount has shown downwards trend. This year the state govt has paid Rs 1820 crore in the month of April viz-z-viz last year’s Rs 1500 crores in April. Similarly, Rs 2200 crores released this year in the month of May against Rs 2002 crores LY same month, Rs 2109 crores in the month of June this year and 1549 crores in June LY, Rs 2123.06 crores in July this year against 1710.80 crores in July last year, Rs 1499 crores in August this year (TY) viz-z-viz Rs 1960.53 crores in August LY, Rs 1100 crores this September against last year’s September it was Rs 1811.04 crores .
In total, the state government had released Rs 317.89 crores more than the last year as power subsidy to the PSPCL from April to September period. But afterwards the situation takes U turn and the powercom received Rs 350 crores only in the month of October and Rs 2382 crores in the third quarter.
“In 2022-23, and 2023-24 which was the first two years when the Punjab government had paid the entire subsidy bill of Rs 20,200 crore to the Punjab State Power Corporation Limited including the previous pending subsidy amount. The state govt had made five installments of Rs 9020 crore pending subsidy and had paid the first two installments of Rs 1,804 crore each to the powercom. But this year around 1900 crores are kept pending by the state government.
After 2 months PSPCL gets four figure power subsidy from state government to fill its coffers . For 2023-24 the state government had almost paid the entire power subsidy of Rs 18,276.74 crores against Rs 18,714 crore.
As per Punjab government, at present 90 percent of residents registered as domestic consumers are getting zero bill.
