Power utility Punjab State Power Corporation Limited (PSPCL) today said it has achieved significant reduction in losses through a series of strategic initiatives taken during 2017-18.
The corporation has successfully brought down financial losses from Rs 2,836 crore in 2016-17 to about Rs 1,250 crore on normative basis in 2017-18 on account of reduction in Transmission & Distribution (T&D) losses as well as a series of other measures undertaken to streamline the systems and boost efficiencies, an official spokesperson said.
T&D losses have come down from 15.25 per cent in 2016-17 to 14.50 per cent in 2017-18.
At the same time, PSPCL has succeeded in reducing its Fixed cost/ Capacity charges paid against power surrendered to National Thermal Power Corporation (NTPC) and private thermal plants (Independent Power Producer (IPP).
From Rs 1,249 crore in 2016-17, the figure has come down to Rs 820 crore in 2017-18, across 31 units. This, said the spokesperson, had been achieved through Banking and bilateral arrangements with the states of Himachal Pradesh, J & K, Odisha and Madhya Pradesh.
PSPCL has also considerably increased sale of surplus power in the open market through power exchange (Indian Energy Exchange), selling 1218.68 million units of energy at Rs445.50 crore during the year gone by, as against 361.18 MU at Rs 107.54 crore in the previous year.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)