New Delhi, Aug 8 (PTI) Reliance Infrastructure on Friday said two of its subsidiaries -- BSES Yamuna Power Ltd and BSES Rajdhani Power Ltd, will recover Rs 21,413 crore of power dues over the next four
years after a Supreme Court ruling.
BSES Yamuna Power Ltd and BSES Rajdhani Power Ltd are the power distribution companies (discoms) of Reliance Infrastructure (RInfra) that supply electricity to 5.3 million households in Delhi.
In a regulatory filing, RInfra said its subsidiaries will "recover Rs 21,413 crore of regulatory assets over 4 years", following a Supreme Court order that has set guidelines for the recovery of regulatory assets.
The Apex Court on Wednesday directed that the regulatory assets, including carrying costs to the tune of Rs 27,200.37 crore, to be paid within three years to Delhi's three private discoms.
Regulatory assets, essentially deferred revenue gaps to be recovered in future tariffs, have risen sharply, reaching Rs 12,993.53 crore for BSES Rajdhani Power Ltd, Rs 8,419.14 crore for BSES Yamuna Power Ltd and Rs 5,787.70 crore for Tata Power Delhi Distribution Ltd as on March 31, 2024, totalling Rs 27,200.37 crore.
RInfra further said its subsidiaries had filed a writ petition and civil appeals in 2014 before the Supreme Court, raising the issue of "non-cost reflective tariff, unlawful creation of regulatory asset and non-liquidation of regulatory asset".
The writ petitions along with connected matters were heard at length by the Supreme Court, and after hearing all parties, including the state governments and state electricity regulatory commissions.
As per the order, RInfra said, Electricity Regulatory Commissions (ERCs) must provide the roadmap for liquidation of existing regulatory assets, which will include provisions for dealing with carrying costs.
ERCs must also undertake a strict and intensive audit of the circumstances in which the Discoms have continued without recovery of Regulatory Assets, it said. PTI ABI DRR
