DISCOMs Owed Power Generators Rs 6.73 Bn in December 2024

06 Jan 2025 CW Team

The overdue before the trigger date is Rs 302.97 billion (~$3.53 billion), after which the amount will increase by Rs 1.79 billion (~$21 million) as the late payment surcharge would apply.

The trigger date is one month after the payment due date or two and a half months after the generating company presents the bill, whichever is later. The DISCOMs are allowed to pay the outstanding amount in up to 48 installments.

Recently, the Grid Controller of India released an updated procedure to implement the Electricity (Late Payment Surcharge and Related Matters) Rules 2022 and subsequent amendments. The procedure applies to intra-state and inter-state generators, licensees, and distribution entities, focusing on payment security, power scheduling, and addressing non-payment scenarios.

In October 2024, the Ministry of Power issued the Electricity Distribution (Accounts and Additional Disclosure) Rules, 2024, to enhance transparency in financial disclosures and bolster regulatory compliance for DISCOMs. The rules aim to ensure that entities are financially safeguarded against long-term defaults by mandating provisions for receivables and enforcing the reporting of trade receivable days.

In March, the twelfth annual integrated ratings of DISCOMs recorded significant financial and operational performance shifts. Of the 55 DISCOMs evaluated for the financial year 2023, 17 improved their grades, while 14 were downgraded.

Fourteen DISCOMs achieved an A+ grade compared to 10 last year. Six of these top DISCOMs are from Gujarat, three from Odisha, and two from Haryana. Eight of these top performers are privately owned companies.

DISCOMs owed power generators Rs 672.91 billion (~$7.84 billion) in total dues for the monthly billing cycle in December 2024, according to the Ministry of Power’s payment ratification and analysis portal PRAAPTI. The DISCOMs owed power generators Rs 653.51 billion (~$7.71 billion) in November. The current outstanding dues, excluding the latest monthly dues of Rs 368.14 billion (~$4.29 billion), are Rs 304.77 billion (~$3.56 billion). The overdue before the trigger date is Rs 302.97 billion (~$3.53 billion), after which the amount will increase by Rs 1.79 billion (~$21 million) as the late payment surcharge would apply. The trigger date is one month after the payment due date or two and a half months after the generating company presents the bill, whichever is later. The DISCOMs are allowed to pay the outstanding amount in up to 48 installments. Recently, the Grid Controller of India released an updated procedure to implement the Electricity (Late Payment Surcharge and Related Matters) Rules 2022 and subsequent amendments. The procedure applies to intra-state and inter-state generators, licensees, and distribution entities, focusing on payment security, power scheduling, and addressing non-payment scenarios. In October 2024, the Ministry of Power issued the Electricity Distribution (Accounts and Additional Disclosure) Rules, 2024, to enhance transparency in financial disclosures and bolster regulatory compliance for DISCOMs. The rules aim to ensure that entities are financially safeguarded against long-term defaults by mandating provisions for receivables and enforcing the reporting of trade receivable days. In March, the twelfth annual integrated ratings of DISCOMs recorded significant financial and operational performance shifts. Of the 55 DISCOMs evaluated for the financial year 2023, 17 improved their grades, while 14 were downgraded. Fourteen DISCOMs achieved an A+ grade compared to 10 last year. Six of these top DISCOMs are from Gujarat, three from Odisha, and two from Haryana. Eight of these top performers are privately owned companies.

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