Electricity discoms suffered losses worth Rs 27000 crore in FY19: Minister

Power supply companies in the nation suffered losses worth 27,000 crore at 2018-19, Union Power Minister R K Singh has stated.

The Centre intends to decrease power transmission and distribution losses in the nation to 15 percent in the following two decades, Singh said here on Saturday.

He fulfilled Goa Power Minister Nilesh Cabral in the Power Grid Corporation’s centre at Colvale, situated approximately 20 kilometers from here.

Following the meeting, Singh stated,”The entire loss of power distribution firms in the fiscal year 2018-19 was 27,000 crore. That’s enormous. Due to the losses, the discoms are under stress.”

He noticed the discoms were confronting problems associated with purchase of electricity, maintenance and many others.

“I must assist the discoms of states to make them workable by reducing their losses,” he explained.

List the goals for 2020, Singh stated in certain nations the transmission and distribution losses were quite significant. Additionally, there were also commercial reductions, associated with metering, billing and charge collection.

“Overall, the past year that the aggregate transmission and distribution loss for the whole nation was 18.5 percent. We wish to bring down it 15 percent in the following two decades,” the minister stated.

Speaking about achievements of the NDA government, Singh said the energy industry has a failed huge transition.

“Ahead of our government came into power, we had an energy shortage. We didn’t create enough electricity for our needs until 2014. There was load-sheddings. We’ve made the nation surplus in electricity production,” he explained.

Singh said India was currently exporting electricity into Bangladesh, Nepal and Myanmar.

“Today, the entire nation is merged into a single grid. . .we can create power in Kashmir and provide to Kanyakumari,” he added.

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Sarah Lacy

Sarah Lacy

Sarah Lacy is a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.
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