Electricity distribution companies mop up Rs 277 crore post demonestisation

Companies will continue to accept old notes of Rs 500 and Rs 100 denominations until November 24.

Published: 17th November 2016 04:40 PM  |   Last Updated: 17th November 2016 04:40 PM   |  A+A-

By Express News Service

BENGALURU: Electricity distribution companies in Karnataka have managed to collect Rs 277 crore in the last five days, after announcing to accept demonetised notes for bill payment.
Energy minister DK Shivakumar on Thursday said that the companies will continue to accept old notes of Rs 500 and Rs 100 denominations until November 24.
“Even the farmers who have opted for regularisation of their irrigation pumpset connection can utilise this opportunity by paying the remaining fees through old notes,” he said.
Stating that the power position was satisfactory in the state at present, Shivakumar said the state is planning to enter into short-term power purchase agreement for 900 MW. The demand in the state at present is 9,000 MW. 

“28 sugar companies which are generating power have come forward to share their produce. The government will soon take a decision on the rate to be paid to companies,” he added. 

Another long-standing problem was also resolved on Thursday as a consensus was reached about the compensation amount to be paid to farmers for installation of towers and corridor for the 300 KV station that is being set up near Yelahanka, Bengaluru. Once this station begins to function, the erratic power supply in North Bengaluru is expected to stabilise completely.

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