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CESC chalks out refund plan

Calcutta, Dec. 20: CESC plans to refund Rs 50 crore to high-tension consumers following West Bengal Electricity Regulatory Commission’s recent tariff order.

This was announced by vice-chairman Sanjiv Goenka at the company’s annual general meeting here today. However, the company’s accounts were not placed before the shareholders today.

The company, which has been waiting for the tariff announcement, could not close its account although it has been collecting bills since June billing month on the basis of the Calcutta High Court order of May. The utility will start re-working its accounts shortly.

The new tariff order passed by the state electricity regulatory commission last Monday said that CESC will be charging a flat rate of Rs 3.81 per unit for the year 2000-01 and Rs 3.90 per unit for the year 2001-02. The company has 18 lakh customers.

The commission has directed that realisation of arrears for refund/adjustment would start from the billing month of April 2003 and shall be paid in equal monthly instalments over two years.

Goenka said he hopes this is the final tariff order and there will be no further modifications.

Chairman R.P. Goenka informed the shareholders that there has been some improvement in the efficiency of power plants. The company has reduced transmission and distribution loss by 1 per cent from 23 per cent.

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