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New Delhi
New power fund constituted
Staff Reporter
To absorb frequent tariff shocks
NEW DELHI: The Delhi Government’s Power Department has constituted a Power Stabilisation Fund -- a body that will provide a timely cushion to absorb the frequent tariff shocks that are felt due to seasonal variation.
Headed by Dr. Pawan Singh, Director (Finance) of Delhi Transco Limited, the group will also include one member each from the State Finance and Power Ministries, the Union Power Ministry, the Planning Commission and the Power Finance Corporation. The Power Stabilisation Fund is the first of its kind in the country. It is mandated to put to use the profit of the power sector within the sector and offer tariff stability for the benefit of consumers. The Fund will be used for providing short-term loans at low interest to power utilities.
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