Power Surge: DERC Ordered to Settle Massive Dues by Liquidation
The Appellate Tribunal for Electricity has instructed Delhi's power regulator, DERC, to initiate the liquidation of Rs 38,500 crore in discom dues within three weeks. An audit by a chartered accountant, not CAG, is to follow. Delays could lead to higher electricity costs for Delhi residents.
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Delhi's electricity charges are poised to rise, following a directive from the Appellate Tribunal for Electricity (APTEL) to the Delhi Electricity Regulatory Commission (DERC) to liquidate Rs 38,500 crore in dues from power distribution companies within three weeks.
The tribunal rejected DERC's application to involve the Comptroller and Auditor General (CAG) for auditing these discoms and recommended hiring an independent chartered accountant to complete the process within three months.
This decision, made public on Monday, poses a significant financial burden on Delhi's citizens, with regulatory assets having accumulated due to historical inaction on power tariff hikes.
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