NEEPCO has lifted power supply regulation to MeECL: Meghalaya Power Minister

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Shillong, Mar 23 (PTI) The North Eastern Electric Power Corporation Limited (NEEPCO) has lifted the regulation of power supply to Meghalaya after MeECL assured to clear the outstanding dues in three instalments, Power Minister James K Sangma said on Tuesday.

The Power minister also declared that there will be no more load shedding from Tuesday afternoon.

'I'm happy to inform that due to concerted efforts of Power Dept, CMD (MeECL) & constant support & guidance of Hon'ble Chief Minister @SangmaConrad, NEEPCO has withdrawn Power regulation today. No more load shedding from 2 PM onwards,' the power minister tweeted.

The decision was taken after Meghalaya Energy Corporation Limited (MeECL) has paid an amount of Rs 127.53 crore of Rs 504.41 crore to NEEPCO on March 19, towards partial liquidation of the outstanding dues.

On Monday, the MeECL vide an e-mail has also given a commitment to pay the amount due and payable to NEEPCO in three equal instalments on or before April 30, May 31 and June 30 on best effort basis.

The NEEPCO in its letter to the Chairman cum Managing Director (CMD) of MeECL, however, maintained that further course of action by NEEPCO will be guided by the outcome of the updates on the steps taken by the MeECL.

'In consideration of your assurances for payment of the balance dues in three equal instalments in April, May and June, the regulation notice is being withdrawn with effect from 14:00 hrs of March 23,' NEEPCO Executive Director (Commercial) NK Mao said in the letter.

'However, NEEPCO will regularly update itself regarding the specific steps taken by MeECL towards lodging of disbursal request with REC/PFC for the second tranche of loan including fulfilment of enabling pre-conditionalities for disbursement to avert an eleventh hour financial crisis in NEEPCO that may hamper its operations. Further course of action by NEEPCO will be guided by the outcome of such updates,' he added.

Meanwhile, the NEEPCO has accordingly requested the Executive Director, North Eastern Regional Load Despatch Centre, Power System Operation Corporation Limited to withdraw the regulation with effect from 2 pm on Tuesday.

'Further, it is confirmed that MeECLs share from NEEPCO power stations from 14:00 hourrs 23.3.2021 onwards has not been sold on any platform and may be scheduled to MeECL accordingly,' it said. PTI JOP RG RG