States allege power cos profiteering, sell bids on PX drop 70%
Power companies are profiteering by overcharging for supply through direct negotiations by evading sale on power exchanges since prices were capped this month at Rs 12 per unit by the electricity regulator, states have informed the power ministry and the Central Electricity Regulatory Commission (CERC).
The power tariff and availability situation is closely being monitored by the Union power ministry and the CERC and if required, ‘suitable interventions could be taken,’ highly placed sources said.
