The Punjab State Power Corporation Ltd (PSPCL) has made a profit of Rs 564.76 crore for period ending September as 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 helped considerably, according to a statement.
The Punjab government’s support was vital for PSPCL to achieve the profit of 564.76 crore. The state government’s role was instrumental in amplifying the power company’s revenue surge and tariff adjustments.
PSPCL took several measures to ensure that power purchase cost remains under check, the statement said. It ensured 19 per cent more generation from state-owned thermals at Lehra Mohabbat and Ropar due to availability of cheaper coal from its Pachhwara coal mine.
It generated 21 per cent more power from own hydel plants; 14 per cent more generation from BBMB hydel plants, and 13 per cent more banking of power with other states.
There has been a 48 per cent reduction in power purchase through short term and purchase from exchange.
No imported coal was used at the state thermal plants in Ropar and Lehra Mohabbat due to operationalisation of the Pachhwara coal mine. A miniscule amount of imported coal was used at private thermals at Rajpura and Talwandi Sabo.
PSPCL’s sale of power in exchange was worth Rs 924 crore from April to September 2023 against Rs 293 crore from April to September 2022.
The power purchase from exchange was worth Rs 1,138 crore at an average rate of Rs 4.59 per unit in 2023, as against Rs 1,914 crore at Rs 5.54 per unit in 2022. Transmission and distribution losses have reduced by 1 per cent.