NTPC Gives INR 1363 Cr Rebate On Fixed Charges To Discoms

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National Thermal Power Corporation Limited (NTPC),Indian Public Sector Undertaking has recently announced about the Update on deferment of capacity charges and rebate to DISCOMs.

NTPC states that it will be giving a rebate  of Rs 1363 crore to distribution companies (Discoms) on fixed or capacity charges that they owe during the lockdown period this fiscal year. 

NTPC stated that its board of directors meeting which was held on 9th June 2020 approved deferment of capacity charges of Rs 2,064 crore to Discoms, to be payable without interest after the end of the lockdown period in three equal monthly instalments.” 

The board has also approved a rebate of Rs 1,363 crore on the capacity charges billed during the lockdown period to discoms on account of COVID-19, in the financial year 2020-21, according to announcement by NTPC.

The notice highlighted that “The above amounts are provisional and may vary due to reconciliation with RPC data”.

Recently, Oil and Natural Gas Corporation Limited (ONGC) and NTPC ltd entered into a Memorandum of Understanding (MoU). The MoU will enable both companies to achieve their targets in Renewable Energy business.As per the MoU, NTPC and ONGC will explore and set up Renewable Power assets including offshore wind, in India and overseas, and explore opportunities in the fields of sustainability, storage, E-mobility and ESG (Environmental, Social and Governance) compliant projects.

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