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Punjab State Power Corporation Limited (PSPCL) has reported a profit of Rs 564.76 crore in the quarter ended September as against a loss of Rs 1,880.25 crore in the same period a year ago.
According to a statement, timely payment of subsidy of Rs 12,342 crore to PSPCL under the Aam Aadmi Party (AAP) government led by Chief Minister Bhagwant Mann helped a lot.
The support of the Punjab government was very important in helping PSPCL achieve a profit of Rs 564.76 crore. The role of the state government was important in increasing the revenue of the power company and tariff adjustment.
The statement said PSPCL has taken several steps to keep power purchase cost under control. It ensured 19 per cent higher generation from state-owned thermals at Lahra Mohabbat and Ropar due to availability of cheap coal from its Pachwara coal mine.
It generated 21 per cent more power from its own hydropower plants; 14 per cent more power from BBMB hydropower plants, and did 13 per cent more power banking with other states.
Short term and exchange power purchases have declined by 48 per cent.
Due to commissioning of Pachwara coal mine, imported coal was not used in the state thermal plants at Ropar and Lehra Mohabbat. Very less quantity of imported coal was used in private thermal plants at Rajpura and Talwandi Sabo.
The power sales value of PSPCL from April to September 2023 stood at Rs 924 crore, while from April to September 2022, this value was Rs 293 crore.
Power purchase from the exchange was Rs 1,138 crore at an average rate of Rs 4.59 per unit in 2023, while it was Rs 1,914 crore at Rs 5.54 per unit in 2022. Transmission and distribution losses have reduced by 1 per cent.
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