NEEPCO agrees to withdraw regulation based on conditions

Syllad | The Rising MeghalayaMarch 21, 2021

North Eastern Electric Power Corporation Limited (NEEPCO) has agreed to withdraw the regulation of power supply on condition that the state clears the outstanding dues within April 30.

The state has to resort to load shedding after the power supply was regulated by NEEPCO due to failure of the Meghalaya Power Distribution Corporation (MePDCL) to clear outstanding dues of Rs 504.41 crore.

In a letter to the MeECL Chief Accounts Officers, NEEPCO Executive Director (Commercial) NK Mao informed that Rs 127.54 crore was received on March 19 from REC Limited and Power Finance Corporation Limited (PFC) on behalf of MePDCL towards liquidation of the outstanding dues. 

“With regard to your request for withdrawal of regulation of power supply, NEEPCO is willing to consider the same subject to the…balance amount of outstanding dues be paid in a single instalment within April 30, 2021 and an amount of Rs 125 crore out of the Rs 198.44 crore paid as the 1st instalment in January, 2021 is agreed to be adjusted against late payment surcharge,” Mao said. 

He also said that NEEPCO is however, agreeable to mutually acceptable terms in line with the instructions issued by the Ministry of Power on March 18.

“We request an early response from your end to enable NEEPCO to review the regulation of power supply at the earliest,” Mao stated in the letter.