Tamil Nadu power sector companies incurred Rs 13,000 Cr loss: CAG
Increased power purchase, coal handling, financing and employee costs has resulted in the five Tamil Nadu state power sector companies incurring a loss of about Rs 13,176 crore, said the Comptroller and Auditor General (CAG) in its report for 2018-19.
According to the report tabled in the Assembly the Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO) last fiscal suffered an increased loss of Rs 4,862 crore mainly due to higher costs.
The CAG report has put the erstwhile ruling party AIADMK on the mat.
The CAG report said the power utility incurred an additional cost of Rs 7,396 crore in higher power purchase and generation costs.
