Sanjay Bumbroo
Tribune News Service
Mandi Gobindgarh, Dec 21
The Punjab State Power Corporation Limited (PSPCL) has allegedly raised unwarranted money amounting to about Rs 2,000 crore by fudging its balance sheet and presenting the same to the Punjab State Electricity Regulatory Commission (PSERC) for raising power tariff during the past five years.
This came to the fore in the recent judgment of the Appellate Tribunal for Electricity (ATE), New Delhi, which has directed the PSERC to “re-determine the Rate on Equity (RoE)” and the said excess amount allowed to the PSPCL with carrying cost to be adjusted in the next annual revenue requirement (ARR).
PSPCL Chairman-cum-Managing Director, KD Chaudhri, said he hadn’t received the copy of the judgment of the Appellate Tribunal for Electricity and that PSPCL would seek legal opinion in the matter.
Unlock Exclusive Insights with The Tribune Premium
Take your experience further with Premium access.
Thought-provoking Opinions, Expert Analysis, In-depth Insights and other Member Only Benefits
Already a Member? Sign In Now
