Maharashtra signs UDAY MoU, 17th state to join scheme

Last Modified: Fri Oct 07 2016 19:06:21 GMT+0530 (India Standard Time)
  • 07 Oct 2016
    The Ministry of Power, Government of India, the State of Maharashtra and Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) signed Memorandum of Understanding (MOU) under the Scheme UDAY – “Ujwal DISCOM Assurance Yojana” today for operational and financial turnaround of the DISCOMs.
  • Rs. 6,600 crore
    outstanding debt of the state's DISCOM as on 30 September 2015.
  • Rs. 4,950 crore
    amount of debt (75%) owed by all DISCOMs now passed over to the state.
  • Rs. 1,650 crore
    or 25% of state's DISCOM debt will now be repaid with fresh state guaranteed DISCOM bonds to be issued at coupon rates around 3% - 4% less than the average existing interest rate.
  • Rs. 595 crore
    Savings for the state DISCOMs in annual interest cost through reduction of debt and through reduced interest rates on the balance debt.
  • Rs. 2,200 crore
    The estimated additional revenues till FY 19 to accrue through reduction in AT&C losses and transmission losses.
  • Rs. 2,370 crore
    The gain expected till FY 19 through Demand Side interventions such as usage of energy- efficient LED bulbs, fans & air-conditioners and efficient industrial equipment.
  • Rs. 4,500 crore
    gain through coal reforms, such as availability of 100% washed coal.
  • Rs. 9,725 crore
    Estimated overall benefit.