PSPCL: There has been a 48 per cent reduction in power purchase
New Delhi:
The Punjab State Power Corporation Ltd (PSPCL) has recorded a profit of Rs 564.76 crore for the period ending September, showing a significant improvement from a loss of Rs 1,880.25 crore in the previous year.
Under the leadership of Chief Minister Bhagwant Mann of the Aam Aadmi Party (AAP) government, the timely repayment of Rs 12,342 crore subsidy to PSPCL has significantly contributed to this achievement, as per a statement.
The support from the Punjab government has played a crucial role in PSPCL’s profit of Rs 564.76 crore. The state government’s efforts have been instrumental in boosting the power company’s revenue and tariff adjustments.
PSPCL has implemented various measures to control the cost of power purchase, as mentioned in the statement. It has witnessed a 19 per cent increase in generation from state-owned thermals at Lehra Mohabbat and Ropar due to the availability of cheaper coal from its Pachhwara coal mine.
Additionally, there has been a 21 per cent rise in power generation from its own hydel plants, a 14 per cent increase in generation from BBMB hydel plants, and a 13 per cent rise in power banking with other states.
A significant accomplishment is the 48 per cent reduction in power purchase through short-term and exchange purchases.
Furthermore, the operation of the Pachhwara coal mine has eliminated the use of imported coal at the state thermal plants in Ropar and Lehra Mohabbat. A negligible amount of imported coal has been used at private thermals at Rajpura and Talwandi Sabo.
From April to September 2023, PSPCL’s power sale in exchange amounted to Rs 924 crore compared to Rs 293 crore in the same period in 2022.
Moreover, the power purchase from exchange was valued at Rs 1,138 crore at an average rate of Rs 4.59 per unit in 2023, as opposed to Rs 1,914 crore at Rs 5.54 per unit in 2022. Additionally, transmission and distribution losses have declined by 1 per cent.
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