Power Surge: DERC Ordered to Settle Massive Dues by Liquidation
The Appellate Tribunal for Electricity has instructed Delhi's power regulator, DERC, to initiate the liquidation of Rs 38,500 crore in discom dues within three weeks. An audit by a chartered accountant, not CAG, is to follow. Delays could lead to higher electricity costs for Delhi residents.
- Country:
- India
Delhi's electricity charges are poised to rise, following a directive from the Appellate Tribunal for Electricity (APTEL) to the Delhi Electricity Regulatory Commission (DERC) to liquidate Rs 38,500 crore in dues from power distribution companies within three weeks.
The tribunal rejected DERC's application to involve the Comptroller and Auditor General (CAG) for auditing these discoms and recommended hiring an independent chartered accountant to complete the process within three months.
This decision, made public on Monday, poses a significant financial burden on Delhi's citizens, with regulatory assets having accumulated due to historical inaction on power tariff hikes.
(With inputs from agencies.)
Advertisement
ALSO READ
Empowering Women: Adani Foundation's New Centre in MP Spurs Economic Independence
Empowering Communities: Himachal's Green Revolution
If voted to power in Bengal, BJP will ensure safety of women, bring back industries: Amit Shah to PTI Videos.
After coming to power, we will make Bengal free from infiltrators: Amit Shah to PTI Videos.
Empowering Marginalized Communities: Beyond Government Jobs
Google News