The move came even as BSES said that the company is hopeful of avoiding a major power cut in Delhi and requested the government to step in to defuse the crisis.
Delhiites will have to pay more for electricity from February 1 as power companies on Friday increased the surcharge. BSES Yamuna Power Limited (BYPL), BSES Rajdhani Power Limited (BRPL) and North Delhi Power Limited (NDPL) have increased surcharge by 8, 6 and 7 per cent respectively.
The move came even as BSES said that the company is hopeful of avoiding a major power cut in Delhi and requested the government to step in to defuse the crisis. BSES sources said bank holding back funds is leading to a payment problem after NTCP, which supplies over 50 percent of power to the national capital, rejected Delhi government's plea to continue power supply to BSES Yamuna Power Limited. If the crisis continues residents of East Delhi and Central Delhi may face eight to 10 hours of power cuts in February.
Also Read: Discoms trying to blackmail govt: Kejriwal
NTPC supplies 3175 MW of power which is almost half of the 6000 MW power the city requires.
The subsidy payment from Delhi government has not come in yet and irregularity in payment from customers is adding to the discom's woes. The accumulated revenue arrears is almost Rs 6,200 crore.
NTPC informed the power discom that a power supply cut is imminent if payment is not made on Friday. NTPC has written a letter to BSES warning it of cut in electricity supply if payments not made by tonight.
The letter was also sent to the Delhi government. NTPC has demanded Rs 179.68 crore to be paid immediately from BSES towards energy supply costs. The company has refused to extend payment cycle beyond January 31.
Meanwhile, BSES sources said that so far NTPC has not agreed to their demand for time to make payment. BSES sources added that the decision on whether there will be power cut or not on Saturday in the national capital depends on what NTPC decides.
Reliance Infra-backed power distribution company BSES Yamuna Power Ltd informed Delhi government that the company was facing serious fund crunch to buy electricity. In a letter to Delhi's Power Secretary Puneet Goel, BYPL sought immediate financial assistance from the government to deal with the "difficult" situation as it was not being able to make payments to various state-run power generators including NTPC and NHPC.
BYPL sought immediate intervention of Delhi government in helping it overcome the situation and urged it to take up the issue urgently with NTPC, NHPC, Ministry of Power and Ministry of Finance.
The BSES Yamuna Power Ltd and BSES Rajdhani Power Ltd, which supply power in 70 per cent areas in Delhi, owe around Rs 4,000 crore to Delhi government-run power generation and transmission companies. Both BRPL and BYPL have been maintaining that they are going through difficult financial condition. They have been demanding significant hike in tariff, citing rise in power purchase cost.
According to DERC figures, the private discoms operating in the city have a revenue gap of whopping Rs 19,500 crore.
NTPC stock price
On January 31, 2014, NTPC closed at Rs 126.40, down Rs 1.7, or 1.33 percent. The 52-week high of the share was Rs 162.80 and the 52-week low was Rs 122.65.
The company's trailing 12-month (TTM) EPS was at Rs 14.87 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 8.5. The latest book value of the company is Rs 97.49 per share. At current value, the price-to-book value of the company is 1.30.
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