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PTC celebrated 20th Annual Day: Free power regime to go says Power Minister

By IndianMandarins- 16 Jul 2019
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Speaking on the 20th annual day celebration of the Power Trading Corporation (PTC), Union Power Minister (I/c) R K Singh, on Monday, said that the country was moving towards a new regime where a power consumer would pay first and then get power supplies. This would deal with the chronic and festering problem of dealing with the issue of nonpayment in the sector.

 

He made it clear that states can give free power to certain sections of the society but they would have to pay for it from their own budget.

 

He strongly condemned the prevailing notion and practice saying “there is no such thing as free power. Production of power involves huge investments’

 

He underlined the non-payment as one of the main reasons for the power sector stress which needs to be rectified at any cost. Without this, one cannot imagine a sustainable power regime which calls for an immediate connection between the payment and delivery. Many states would have to reconsider their stand.

 

Speaking on the occasion, PTC CMD Deepak Amitabh said the company has entered the 'adulthood' having completed the 'teenage' and the formative age spanning 19 years. Starting with a capital base of Rs five crores in 1999, it is now Rs 15,000 crores company.

 

And 'adulthood' has its own challenges. Since the country needs a judicious mix of power generated from various sources, the company has its task well cut out. Echoing the minister, he said the value of power has to be rationalized and pegged to the cost.

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