Gridco seeks 40% hike in bulk power supply price

Bhubaneswar: Grid Corporation of Odisha on Friday sought permission from the state's regulatory commission for a 40 per cent hike in bulk supply price charged from distribution companies next fiscal.
A hike, if allowed, would lead to an increase in power tariff in the state.
Gridco disclosed this while presenting its view at the public hearing conducted by the Odisha Electricity Ragulatory Commission here.
It projected an annual revenue requirement of Rs 9,515.79 crore for 2013-14 fiscal as against Rs 6,950.64 crore approved by the commission for the current fiscal.
Gridco, the state's lone bulk power supplier, has proposed procurement of 26,221.42 million units of electricity from different sources at a cost of Rs 6,837.67 crore in the next fiscal.
Gridco has brought to the notice of the Commission that huge past liabilities has been thrust upon it due to non-payment of power purchase dues by discoms of the state.
The provisional outstanding dues against all discoms of the state has reached a staggering level of Rs 4,776.92 crore which has ruined it financially, it said.
Gridco has proposed for enhancement of the existing Bulk Supply Price (the price at which Gridco sells power to discoms) from Rs 2.70 per unit to Rs 3.78 per unit.
However, other stake holders raised objections on the Gridco's proposal and claimed that this would led to rise in the pwer tariff.
Meanwhile, discoms including Central Electricity Supply Utility (CESU) has proposed 12 per cent hike in tariff after projecting a loss of around Rs 346 crore for 2013-14 at the prevailing tariff rate.
Other distribution companies North Eastern Electricity Supply Company, Western Electricity Supply Company and Southern Electricity Supply Company have also projected loss of Rs 1,134 crore, Rs 800 crore and Rs 150 crore, respectively with the continuation of the present power rates.