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As part of efforts to make the Transmission Corporation of Andhra Pradesh (APTRANSCO) robust and resilient in all aspects, it has introduced effective financial management measures. These measures have helped upgrade Transco’s image, the utility said in a statement.
According to APTRANSCO, the measures are not only yielding good results by improving its finances but also strengthening overall efficiency, which would allow the power utility to deliver the best services to consumers.
APTRANSCO is now successfully maintaining the economy in expenditure so as to reap the benefits of cost control, cost reduction, and cost effectiveness and save public money as a whole, the statement said. While AP power utilities are making all-out efforts to reduce power purchase costs, the emphasis is mainly on supplying 24×7 quality and reliable power to all the consumers in the State.
Review meeting
At a review meeting called by senior State officials, it was explained that APTRANSCO has successfully persuaded the Rural Electricity Corporation (REC) to reduce interest rates for capital expenditure loans. The interest rates on short-term loans and medium-term Loans were also reduced considerably
AP Transco payments to contractors, debt servicing, Central Generating Stations (CGS), thermal, solar, wind, and biomass generators were done promptly. Transco has brought better financial administration to the company. We have streamlined the tendering, procurement of materials, and budgeting in the company as a whole, which will definitely help to save public money and strengthen the power utilities,” said officials
The officials explained that APTRANSCO conducts critical reviews and analyses the records of power generators and power purchase agreements on a regular basis. Besides, surcharges and other related claims from solar and wind are also critically analysed, and correct payments would be made; as a result, excess claims would be avoided. All power purchases were made on merit order dispatch; as a result, the least cost purchase from all sources facilitates savings for APTRANSCO.
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