‘Power’ Is Money: Punjab Electricity Board Earns Over Rs 400 Crore In A Month Through Energy Exchange

Swarajya Staff

Oct 02, 2018, 01:39 PM | Updated 01:39 PM IST

 (Photo by Sakib Ali/Hindustan Times via Getty Images)
(Photo by Sakib Ali/Hindustan Times via Getty Images)

The Punjab State Power Corporation Limited (PSPCL) has sold power worth over Rs 400 crore through open exchange without reducing power to the state’s electricity consumers and that too during the paddy season, the period of peak demand, Times of India has reported.

This is a special occasion for the PSPCL, which was rated number one in September at Indian Energy Exchange, as it has achieved this feat for the first time. The state sold 744 million units (MUs) of electricity at an average rate of Rs 5.73 per unit gaining Rs 426 crore.

Baldev Singh, chairman-cum-managing director (CMD) of PSPCL, said that, “It was for the first time in the annals of history of the PSPCL that it has sold extra power worth Rs 426 crore in a single month without imposing any power cut in the state”. He also said that Punjab was rated number one at the all-India level in selling power at the Indian Energy Exchange.

PSPCL, in 2017, supplied 28,267 MUs of energy to its consumers in the state up to August while this year it supplied 28,773 MUs, 506 MUs more than the previous year. Despite the increase in demand, PSPCL was able to generate and sell extra power at the exchange.

Punjab’s Power Minister Gurpreet Singh Kangar has praised PSPCL management for optimally utilizing power resources and said that such good measures could lead to fulfilling the promise of power tariff reduction in the state.

Get Swarajya in your inbox.