The Punjab State Power Corporation Ltd (PSPCL) has made a profit of Rs 564.76 crore for the period ended September, against a loss of Rs 1,880.25 crore in the year-ago period.
Under the Aam Aadmi Party (AAP) government led by Chief Minister Bhagwant Mann, the timely repayment of Rs 12,342 crore subsidy to PSPCL has helped significantly, a statement said.
The support of the Punjab government was crucial for PSPCL to achieve the profit of Rs 564.76 crore. The role of the state government was instrumental in enhancing the power company’s revenue growth and tariff adjustments.
PSPCL has taken several measures to ensure that the cost of purchasing power remains under control, the statement said. It provided 19 percent more generation from state-owned thermal power sources in Lehra Mohabbat and Ropar due to the availability of cheaper coal from the Pachhwara coal mine.
It generated 21 percent more electricity from its own hydel power stations; 14 percent more production from BBMB hydel plants, and 13 percent more power storage from other states.
There is a 48 percent reduction in power purchase through short-term and exchange purchasing.
No imported coal was used in the state’s thermal power plants at Ropar and Lehra Mohabbat due to the operation of the Pachhwara coal mine. A minuscule amount of imported coal was used in private thermal baths in Rajpura and Talwandi Sabo.
PSPCL’s sale of power in return was worth Rs 924 crore from April to September 2023, against Rs 293 crore from April to September 2022.
The power purchase on the exchange was worth Rs 1,138 crore at an average rate of Rs 4.59 per unit in 2023, against Rs 1,914 crore at Rs 5.54 per unit in 2022. Transmission and distribution losses have been reduced by 1 percent.
