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Power reforms on anvil - Views on News from Equitymaster
 
 
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  • Nov 4, 1999

    Power reforms on anvil

    According to newspaper reports, the Union power ministry is planning to initiate a policy to compensate the transmission companies for incurring losses on account of delays in implementation of generation plants.

    Transmission companies have argued that they have had to incur losses on account of under-utilisation of transmission lines when generation projects fail to take off.

    The Union power ministry is considering a proposal to seek compensation from generating companies for any time lags in completing the project. This is expected to ensure that generating companies complete their projects as per schedule or pay a penalty. This will give transmission companies a cover for their risks.

    The ministry will have to ensure that this policy is implemented stringently without exceptions. A large number of power projects have failed to take off due to one reason or the other. In many cases this has lead to cost overruns, which increases the unit cost of power. As usual, it is the consumer who 'pays' for these inefficiencies.

    Delays in implementation of power projects has given rise to a far more serious problem - slow capacity additions. The power sector is estimated to meet only 30% of the Ninth 5-year plan target of 40,250 MW. With robust growth of power-hungry sectors like cement, steel and aluminium, slow capacity additions in the country are a cause for concern.

     

     

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