Photo Source: Babushahi Bureau
PHDCCI applauds one-time settlement scheme of industrial electricity consumers by Punjab Govt, PSERC
Babushahi Bureau
Chandigarh, September 21, 2024: R S Sachdeva, Chair, Punjab State Chapter, PHDCCI has commended the recent order issued by the Punjab State Electricity Regulatory Commission (PSERC) under Regulation 47 of the Supply Code-2014.
The order introduces a One-Time Settlement (OTS) Scheme for defaulting industrial consumers. This OTS Scheme will be available for three months from the date of issuance of the commercial circular by the Punjab State Power Corporation Limited (PSPCL).
He further noted that PHDCCI had submitted a representation on 31st July 2024 and met Hon’ble CM Punjab, S. Bhagwant Mann, and highlighted the benefits of the scheme. He expressed satisfaction at the swift action taken by the authorities and believed that this initiative would contribute significantly to the economic revitalization of Punjab. We thank Hon’ble CM Punjab, S. Bhagwant Mann for his special efforts & giving direction to the Regulatory Commission & Chief Secretary. Litigation cases between Industry & PSPCL from the District Court to the Supreme Court would end & Industry would be relieved now.
Karan Gilhotra, Co-Chair of, the Punjab State Chapter, PHDCCI shared his insights on the recent order by the Punjab State Electricity Regulatory Commission (PSERC).
He noted that the One-Time Settlement (OTS) Scheme provides an opportunity for defaulting consumers to settle their dues, which will, in turn, enhance the recovery of outstanding amounts for the Punjab State Power Corporation Limited (PSPCL).
Sanjiv Singh Sethi, Co-Chair, of Punjab State Chapter, PHDCCI praised the order issued under Petition No. 10 of 2024 by the Punjab State Electricity Regulatory Commission (PSERC).
He remarked that this is a significant step toward providing relief to defaulting consumers, allowing them to clear their outstanding dues through a structured scheme.
Parv Arora, Convener, Regional Power and Renewable Energy Committee, PHDCCI expressed his views on the recently issued guidelines under the OTS scheme by PSERC, stating that they will significantly benefit consumers by simplifying the approval process and ensuring a more transparent and hassle-free experience.
He emphasized that PHDCCI, acting as the voice of the industry, had earlier submitted a proposal similar to the provisions outlined in the order for the One Time Settlement (OTS) Scheme. This alignment reflects the PHDCCI’s proactive role in advocating for reforms that support both industry and consumers.
PHDCCI appeals to industry, to use this OTS Scheme & clear the litigations by paying the actual amounts with simple Interest. There would be no penalty & Penal interest would be charged by the PSPCL.