ISLAMABAD: Sui Northern Gas Company Limited (SNGPL) holds the Central Power Purchasing Agency– Guaranteed (CPPA-G), market-operator, responsible for piling up an amount of Rs 148 billion against IPPs and government-owned plants including WAPDA, well informed sources told Business Recorder.
According to SNGPL, total amount of receivables from Guddu Power Plant stood at Rs 30.344 billion of which Rs 10.513 billion is undisputed amount, Rs 19.555 billion disputed gas charges and Rs 277 million GIDC including Late Payment Surcharge (LPS).
The stock of receivables against Nandipur Power Plant have reached Rs 18.405 billion, including undisputed amount of Rs 9.449 billion and Rs 8.956 billion from LPS on gas charges.
Recovery of Rs170.237bn from power sector: SNGPL seeks Petroleum Division’s support
The stock of piled amount against Thermal Power Station (TPS), Muzaffargarh stood at Rs 1.334 billion – undisputed Rs 17 million, total gas charges with LPS, Rs 9.06 million, Gas Thermal Power Station (GTPS) Faisalabad, Rs 1.770 billion, GTPS Shahdra Rs 175 million, Steam Power Station (SPS) Faisalabad, Rs 92 million, Rental Power Bhikki, Rs 116 million, and Rental Power Sharqpur Rs 161 million.
The cumulative piled amount against nine power plants/stations stood at Rs 52.453 billion, which includes undisputed amount of Rs 20.682 billion, disputed gas charges Rs 541 million, LPS on gas charges Rs 30.924 billion and GIDC (including LPS) Rs 306 million.
The total piled receivables against Independent Power Producers (IPPs) stood at Rs 25.107 billion, of which amount against Kot Addu Power Plant was Rs 2.250 billion. Engro Energy, Rs 1.643 billion, Liberty Power, Rs 16.692 billion, Orient Power, Rs 1.404 billion, FKPCL Rs 899 million, Sapphire Power, Rs 1.2 billion, Saif Power, Rs 844 million, Davis Energy, Rs 88 million, Halmore Power, Rs 86 million and Altern Energy Rs 1 million. Of the total amount of Rs 25.107 billion, Rs 17.206 billion is undisputed receivables, whereas an amount of Rs 1.110 billion is disputed gas charges, LPS on gas charges Rs 6.409 billion and Rs 382 million GIDC (including LPS).
The stock of Government Power Plants (GPPs) was Rs 65.212 billion, of which Rs 19.116 billion are against QATPL, Rs 21.482 billion against National Power Parks Management Company Limited (NPPMCL) (Baloki) and Rs 24.614 billion against NPPMC (Haveli Bahadar Shah).
The Energy Task Force officially headed by the Minister for Power, Sardar Awais Leghari has already been engaged with the IPPs to reach negotiated settlement agreements. Revised agreements have already been signed with some IPPs whereas “hard” talks are underway with 17 IPPs of 1994 and 2002 policies, to be followed with GPPs and then wind and solar.
According to SNGPL, a huge amount of Rs.142.772 billion has piled up against power sector (WAPDA, IPP’s & GPP’s) due to lower release of funds by CPPA-G to power sector.
Out of outstanding amount of Rs 148 billion, Rs. 277 million is outstanding against disconnected WAPDA rented power units i e. Bhikki & Sharqpur and Rs. 88 million is outstanding against disconnected IPP Davis Energen.
“The state of affairs is detrimental for sustainability of the Company may jeopardize the overall financial structure of the Company.
SNGPL is facing grievous liquidity crisis and due to delayed release of funds by power sector, SNGPL is unable to discharge its commitments that include payments to upstream gas suppliers,“ said General Manager (Recovery), SNGPL to Director General Gas (Petroleum Division).
Copyright Business Recorder, 2024
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