In a bid to save money by cutting down its coal inventory, the Punjab State Power Corporation Limited (PSPCL) has burnt a big hole in its own pocket as it ended up spending a whopping ₹250 crore in the first 10 days of October to buy electricity from the national grid to meet rising power demand.
The average per unit rate of power purchased is ₹9.5 per, which is almost double the annual purchase cost. The average cost of power purchase per unit is ₹4.14 for the present fiscal.
With the state going to the polls early next year, the Punjab government has asked the corporation to ensure maximum supplies of electricity and bring down power cuts.
