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13 states with unpaid power bills of Rs 51 billion blocked from spot power exchanges

Electricity trading by 27 discoms in 13 states restricted

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As many as 13 states have been blocked from spot power exchanges due to unpaid power bills to the tune of Rs 51 billion.

Thirteen states won't be able to buy or sell electricity at power exchanges until they pay their dues to generators and transmission companies, NDTV quoted S.R. Narasimhan, chairman at Power System Operation Corporation saying.

PTI reported that the directive from POSOCO to Indian Energy Exchange (IEX), Power Exchange of India (PXIL) and Hindustan Power Exchange (HPX) is given to restrict trade of electricity by utilities of 13 states, including those in Maharashtra, Madhya Pradesh, Rasjasthan, Karnataka, Andhra Pradesh, Telangana, Tamil Nadu, Bihar, Chhattisgarh and Jharkhand.

In a letter shot off to the three exchanges, POSOCO said that buy and sell transactions in all products of power market for the discoms (27 discoms in 13 states) shall be entirely restricted till further notice from the delivery (of power) date of August 19, PTI reported.

According to new rules, state power retailers will lose access to short-term sources of electricity if they fail to pay within two-and-a-half months from the date bills are raised.

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