Tamil Nadu’s power utility Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) which had posted a loss of 13,783crore in 2016-17, expects to achieve break-even this fiscal. It had posted a loss of Rs 13,985crore in 2013-14.
TANGEDCO is inching towards, break-even, after a gap of nearly 15 years, riding high on various measures including additional generation capacity and procurement of cheaper electricity, according to a policy note tabled in the state Assembly on Monday by electricity minister P Thangamani.
Additional power generation capacities and power contracted through long and short term basis has enabled TANGEDCO to discontinue procurement of costly power based on naptha and low sulphur heavy stock fuels, the policy note said.
The state government is expected to save 1200crore per annum on the interest portion alone.
On the power demand in the state, the policy note said it was about 13,750 MW to 14,250 MW while Chennai met an all time high demand of 3,332 MW on May 30, 2017. The daily average state consumption increased from 200 MUs during 2011 to 320 MUs in 2017, it said.
The government expects the average daily demand at 15,250 MW and expects it to go up further. It has plans to add 20, 500 MW to the grid over the next five years. On the wind energy side, Tamil Nadu has a share of 28.43% with 7,855 MW of installed capacity. Process is on to add 4,500 MW of wind energy.