HP to settle power arrears with Punjab and Haryana
THE DIFFERENTIAL ENERGY QUANTUM OF 13,066 MILLION UNITS WOULD FETCH ₹3,266 CRORE TO THE STATE AT AN AVERAGE RATE OF ₹2.50 PER UNIT
SHIM LA: In a bid to fill its empty coffers,Jai Ram Thakur-headed cabinet on Thursday, gave its consent to settle half-a-centuryold electricity arrears with Punjab and Ha ryan a in three B ha kr a Beas Management Board (BBMB) projects in compliance with a Supreme Court order in terms of differential energy return. The differential energy quantum of 13,066 million units would fetch ₹3,266 crore to the state at an average rate of ₹2.50 per unit, an official statement said.
CM Jai Ram Thakur presided over the cabinet meeting, which also approved negotiations with both the neighbouring states for payment of the entire differential energy within 10 to 12 years.
PAYMENT OF LIABILITY OF₹111CRORE
It also agreed for talks for payment of liability of ₹111.53 cr ore as computed by the central government in its affidavit in equal annual instalments during the period of return of power. In case Punjab and Haryana insist for repayment with interest, HP will go in for return of power with a premium of 6% and with no additional liability for getting the differential energy of 13,066 million units, said the statement.
DIFFERENTIAL POWER
The cabinet approved the pro- posal of Punjab and Haryana on return ofdifferential power from October 1 to March 31 owing to constraints of pad dy harvest season and also requirement of Hp during winter in public interest.
The SC had raisedHP’s share to 7.19% of the power generated by Bhakra, Beas (Dehar) and Beas (Pong) prjects against the 2.5% it was earlier getting.
In its order on September 27, 2011, it had upheld the hill state’s claim and directed compensation for denial of the state’s legitimate share from November 1, 1966.
Punjab had suggested that it would settle the arrears within 20 years. However, the cabinet disagreed to the proposal and accentuated to negotiate with Punjab and Haryana for the return of entire differential energy within 10 to 12 years.
Him ac hal had started availing enhanced share with effect from November 2011 to the extent of 152.84 megawatt against its earlier share of 44.29 megawatt, therefore resulting in additional allocation of power to the tune of 108 megawatt.