Umang Singhar has accused the BJP government regarding the acquisition of Lanco Amarkantak Power Plant and the issue of electricity rates. He said that after selling the plant which was in debt of thousands of crores at a very low price, now preparations are being made to put additional financial burden on the people of the state by purchasing expensive electricity from the same plant.
The Congress leader said that Lanco Amarkantak Power Plant, which had a debt of about Rs 14,631 crore, was acquired by Adani Power for only Rs 4,101 crore. He alleged that in this process the banks gave up about 72 percent of the loans, due to which the private company got a big benefit. He has questioned that when the plant was purchased at a low cost then why its benefits are not being passed on to the electricity consumers.
Umang Singhar has raised questions on the BJP government regarding the acquisition of Lanco Amarkantak Power Plant. He alleged that after handing over the plant with a loan of thousands of crores to a private company at a low price, now preparations are being made to pass on the additional burden of electricity from the same project on the common consumers.
The Leader of Opposition has alleged that the power companies of Madhya Pradesh buy hundreds of megawatts of electricity from this plant every year. After the acquisition, a proposal has been made to increase the fixed charge, which may impose an additional burden of about Rs 74 crore on the consumers of the state. He said that the model of first loan waiver, then cheap acquisition and then recovery from the public through expensive electricity is being adopted. Taking aim at the BJP government, the Congress leader said that in the current system, private companies are being benefited, while common consumers are continuously facing expensive electricity and rising bills.
In fact, after the acquisition of Lanco Amarkantak Power Plant, the matter regarding electricity tariff has reached the Madhya Pradesh Electricity Regulatory Commission. Energy sector experts and consumer organizations have lodged objections with the Commission saying that when a power project has been purchased at a low price, its production cost and tariff structure should be re-evaluated. Adani Power had acquired the debt-ridden Lanco Amarkantak project about two years ago under the process of the National Company Law Tribunal. After this, the debate regarding power purchase rates and fixed charges has intensified.
