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June 7, 2001
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Money > Business Headlines > Report June 7, 2001 |
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DPC to continue billing MSEB for Phase II powerS Ravindran Dabhol Power Company will continue billing the Maharashtra State Electricity Board for the power generated from its phase II, which was due to commence operations on Thursday. Sources close to DPC said: "If MSEB had fully co-operated with DPC, commercial production could have begun from tomorrow. Under the power purchase agreement they would have been forced to buy this power." "While MSEB's contention is that they have rescinded the PPA, DPC's contention is that the PPA continues to be in force. Under these circumstances, DPC will definitely charge MSEB for the second phase power at some future date," the sources added. MSEB has already stopped buying power from DPC. MSEB chairman Vinay Bansal could not be reached for comment. Meanwhile, lenders to the Enron-promoted Dabhol Power Company are yet to arrive at a decision on the crucial issue of a transfer notice being served to the MSEB. DPC executives made a presentation to a consortium of domestic and foreign lenders in Singapore on Wednesday. "The lenders are yet to get back to DPC with their views on the subject," sources said. This was one among various suggestions put forth by DPC executives to the lenders. The other issue that was discussed was the mothballing of the 1,444 mw second phase of the project. Further, DPC executives also spelt out the differences between the company and the Godbole committee to a consortium of Indian and foreign lenders. "DPC representatives pointed out that there was a huge gulf between the members of the Godbole panel and the company. The bone of contention is the plant load factor at which DPC will sell power to Maharashtra State Electricity Board. Dabhol Power is keen on a PLF of 90 per cent, which will bring down the tariff. The Godbole panel on the other hand wants a much lower offtake of power by MSEB," sources close to DPC told Business Standard from Singapore. Powered by YOU MAY ALSO WANT TO READ:
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