Representative image | Photo: AP
Kochi: There are disparities in the report submitted by the Kerala State Electricity Board to increase electricity tariffs in the state and that announced in the annual budget.
In the 2022-23 budget, it was pointed out that a profit of Rs 496.20 cr is expected by KSEB. However, the report submitted to the Kerala State Regulatory Commission discloses that KSEB will incur a loss of Rs 2,852.58 cr in the current financial year.
The data available on the website of KSEB on the 2022-23 budget and the updated budget estimates from last FY also points out that the board will earn a profit. By selling electricity and through electricity tariffs, the board expects total revenue of Rs 18,081.52 cr.
By keeping aside the expenses on buying electricity and those on wages, the updated estimate predicts a profit of Rs 171.77 cr.
However, the Aggregate Revenue Requirement (ARR) submitted to the State Electricity Regulatory Commission seeking tariff hike states that by 2022-23, the revenue will be Rs 15,976.98 cr and the expenditure will be Rs 18,829.56 cr. Thereby, the board admits an expected loss of Rs 2,852.58 cr.
The budget shows an outlay of Rs 9,854.32 cr for power procurement in 2022-23. However, in the report submitted to the Commission, it was calculated to be Rs 10,012.35 cr.
Further, the depreciation expenditure in the budget is estimated at Rs 1,115.71 cr, and this has come down to Rs 742.89 cr in the report submitted before the Commission.
"KSEB chairman has announced the sale of an additional Rs 1,000 cr worth of power. This means that the board is also getting unexpected profits. However, the figures are inflated to increase the tariff in the state. According to our calculations, the KSEB is currently making a profit," said AR Satheesh, President, Kerala High Tension (HT) and Extra High Tension (EHT) Industrial Electricity Consumers Association.
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