look news india
Patiala: The government has issued the subsidy bill for May 2024 to PSPCL as well as the outstanding subsidy bill of the previous financial year. The state government has released Rs 4020 crore as power subsidy to Punjab State Power Corporation Limited (PSPCL) for May 2024. Let us tell you that the state government had already released power subsidy of Rs 1820 crore for April 2024.
The state government has released Rs 2,213 crore to agricultural category consumers, Rs 1,624.33 crore to domestic category and Rs 182.67 crore to industrial category, taking the amount to Rs 4,020 crore. A senior PSPCL official, on condition of anonymity, said, “The Punjab government has given a financial boost to Powercom in view of the heavy load during peak season. The state government has not only paid subsidy bills for April, May but also released Rs 380 crore out of the outstanding dues of Rs 1923 crore of the previous financial year. This outstanding amount will prove to be helpful for PSPCL in the paddy season.”
According to sources, the Punjab government has paid Rs 18,276.74 crore as power subsidy to PSPCL from April 1, 2023 to March 31, 2024. The annual revenue requirement for 2024-25 is estimated at Rs 46383 crore and its annual revenue at current rates will be Rs 47940 crore. The major component of ARR is power purchase cost valued at Rs 30062 crore followed by personnel expenses of Rs 7281 crore. The transmission charges payable to PSTCL is Rs 1651 crore.
