Coal news and updates

MSEDCL’s accumulated losses at Rs 5,947 crore

India Coal Market Watch

December 17: The accumulated losses of Maharashtra State Electricity Distribution Company Ltd (MSEDCL) stood at Rs 5,947 crore as on March 31, 2014.

The accumulated loss of Rs 5,947 crore was based on the report on Performance of State Power Utilities published by Power Finance Corporate (PFC).

The central government has launched a scheme – Ujwal Discom Assurance Yojana (UDAY) – in November 2015 for the operational and financial turnaround of power distribution companies (discoms).

It aims to reduce interest burden, cost of power and AT&C losses of the discoms.

DISCOMs and participating States would enter into tripartite agreement with the Government of India to achieve operational and financial targets as per agreed trajectory.