Power companies’ dues to CIL soar 53% since April
Kolkata: Coal India’s receivables from power companies increased 53% since April last year to Rs 12,400 crore in January, which company executives say reduces its ability to pay dividend at a time it is discussing the payout with the Centre, company executives said.
Coal India executives say NTPC and some power producers have disputed the company’s demand for incentives for supplying coal beyond annual quota and revised logistics rates since 2017. NTPC executives say the company had not withheld any legitimate payment.
Another set of state-government owned power plants from Uttar Pradesh, West Bengal, Andhra Pradesh, Tamil Nadu and Rajasthan are not paying dues regularly on time which has inflated the overall receivables. All this has bloated the total receivables by Rs 4,300 crore this year. Threefourth of this accrued since November.
