Andhra Pradesh power utilities received INR 6,600 crore loan from Centre
Andhra Pradesh state power utilities received the INR 3,300 crore disbursement from the Centre, under the second tranche of Atmanirbhar loan…
The Centre has sanctioned INR 6,600 crore to Andhra Pradesh state power utilities under the second tranche of the Atmanirbhar loan.
The Centre has released the final disbursement of INR 3,300 crore to the state of INR 6600 crore loan. The state has earlier received the first disbursement of INR 3,300 crore.
Andhra Pradesh Energy Secretary, N. Srikanth -while unfurling the national flag at the 72nd Republic Day celebrations spoke about the achievements of the state power utilities, in this regard.
He stated that the union government praised the state of Andhra Pradesh for the implementation of the direct benefit transfer scheme for the farmers. He also added that taking the step of power procurement at power exchanges has helped the power utilities of the state to save INR 1023.8 crore.
He further added that in the financial year 2019-20, the state power utilities have been able to bring down the AT&C losses to 13.36 percent from the 16.36 percent during the year before.
He also pointed out, about the procurement of 6,320 million units of power from the open market, during the current financial year. Here, the state power utilities were able to achieve the average procurement cost of INR 3.12 per unit – including the transmission charges.
Thus, the power utilities of the state were able to make the procurement of power at a much lower average cost – as against the approved weighted average procurement cost of INR 4.55 per unit.
In addition, by surrendering 625 MW of coal power from Central Generating stations, the state power utilities were able to save fixed cost payments of INR 850 crore per annum.
Atmanirbhar Bharat Assistance Package
The Centre has in recent past announced the 2nd tranche of the INR 1.25 lakh-crore Atmanirbhar Bharat assistance package to provide assistance to state discoms to clear their power bills.
In this regard, the states are required to meet certain targets like installation of prepaid meters and clearing government departments’ dues laid down for tranche one of the scheme – in order to get loan disbursements under the Atmanirbhar Bharat mission – 2nd tranche of the INR 1.25 lakh-crore assistance package.
The state discoms of Andhra Pradesh, Telangana, and Bihar had committed to bringing noticeable reductions in their commercial and financial losses over the next four years.
