Hyderabad, August 8: For withholding payments to power generation firms, Tangedco slapped with Rs 7.4 crore fine over delayed payments. A cash-strapped Tangedco is on the receiving end again. In orders issued from 28 July to 4 August, Tamil Nadu Electricity Regulatory Commission (TNERC) has asked Tangedco to pay Rs 7.4 crore as interest to five generating companies. For several years the power companies had postponed payments to them.
Newsprint Tamil Nadu, VVD, and Sons Pvt. Ltd, Anu Cashews, Spike Power Protection System and Technologies and Natesan Synchrocones had lodged separate petitions before TNERC, requesting permission from Tangedco to pay interest on the pending payment.
The estimate by Tamil Nadu Newsprint for the power supplied to Tangedco from August 2012 to January 2014 was Rs 3.8 Crore. VVD, and Pvt Brothers. Ltd claimed interest of Rs 2.3 crore, and Anu Cashews claimed interest of Rs 26 lakh.n In similar cases, TNERC asked the discom to pay interest of Rs 79 lakh to Natesan Synchrocones, and Rs 30 lakh to Spike Power Protection System.
According to the agreement between Tangedco and the power generating firms, the discom is to pay for the purchase of the electricity within 30 days. Delayed payment includes interest of 1% per month. The regulatory body has asked the discom to make the payments within three months of the date of the respective orders.
