Bhubaneswar : The Odisha Electricity Regulatory Commission (OERC) has revoked the licences of three power distribution companies (discoms) in the state, Nesco, Wesco, Southco, which are owned by Anil Ambani-controlled Reliance Energy Ltd.
OERC has temporarily handed over the management of the three discoms to Gridco (formerly Grid Corporation of Odisha), which held 49% stake in the companies. Reliance Infrastructure owned the majority 51% share in these distribution firms.
OERC has appointed Gridco CMD, Hemant Sharma as the administrator of the discoms, which are responsible for retail supply of power in northern, western and southern regions of the state.
The licences of Reliance energy-owned discoms were cancelled for financial unsustainability, disobeying previous orders of OERC on improvement in power supply efficiency and violation of various sections of power supply agreement with the state government among others, said a OERC official.
