STOCK MARKET BSE NSE

Staffers uneasy as power corp told to share assets

The Tamil Nadu Electricity Regulator Commission (TNERC) has directed Tamil Nadu Generation and Distribution Corporation (TANGEDCO) to share its assets, including human resources,

Published: 16th August 2017 01:33 AM  |   Last Updated: 16th August 2017 06:57 AM   |  A+A-

Express News Service

NAMAKKAL : The Tamil Nadu Electricity Regulator Commission (TNERC) has directed Tamil Nadu Generation and Distribution Corporation (TANGEDCO) to share its assets, including human resources, with Tamil Nadu Transmission Corporation (TANTRANSCO). This has triggered fear among employees regarding the repercussions after the transfer of assets affecting their monthly salaries and pensions.


Tamil Nadu Electricity Board (TNEB) that had been functioning as a separate entity for generation, transmission and distribution of power in Tamil Nadu was divided into TANGEDCO and TANTRANSCO in 2009. However, their operations were stated to have commenced from November 2010 only on paper.
Despite the division of the TNEB was stated in various orders earlier, the huge revenue differences in the TNERC delayed the asset segregating process. In order to equate the loss incurred, the TNERC have doubled the tariffs in April 2012 and December 2014 for all kind of consumers.


As per Section 64 (3) of the Electricity Act, 2003, TNERC has ordered the sharing of the assets with effect from Friday and has also asked them to complete related works before November.According to the order, TANGEDCO can hold upto 33 Kilo Volt (KV) consumer category and their staff and transfer above 33 KV category and human resources to TANTRANSCO.

It has also been told to share the annual interest payment of over `1,500 crore as per the final transfer scheme as notified by the State government on August 12, 2015.However, employees of TANGEDCO said that it was not possible to recover the regulatory assets and sharing them would have a direct impact on their salaries and other work benefits.

Stay up to date on all the latest Tamil Nadu news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp