Lucknow, March 30 (IANS). Union Minister of State for Energy, Jeso Naik on Sunday urged the states to improve the financial condition of power utilities.
In a meeting with the ministers of the states in Lucknow, Uttar Pradesh, the Union Minister discussed the need to prepare a system for the financial restructuring of distribution utilities, reduce interest burden, develop storage solutions, reduce the total power purchase costs and reduce the need to provide electricity supply to agriculture during the day.
The Union Minister said in the meeting that there is a need to implement AI and digital innovation in the energy sector. Also said that tariffs should be ensured according to cost to improve the financial condition of the power sector.
He further said that implementing these measures will help utilities improve their financial stability.
Energy Minister of Uttar Pradesh, Andhra Pradesh, Madhya Pradesh and Maharashtra and senior officials of Central and State Governments, State Electricity Companies of Member States, Power Finance Corporation (PFC) Limited and REC Limited attended the meeting.
In the meeting, Tata Power Distribution, Odisha as special invoice, Odisha shared its journey towards making its best practices and its discom profitable.
The member states actively participated in the meeting and the states presented an overview of their resominations. At the same time, the states made important suggestions to improve the financial situation of Discom. The states of Uttar Pradesh, Madhya Pradesh, Andhra Pradesh, Maharashtra and Tamil Nadu performed on this subject.
In the meeting, the ministers of the states pledged to take necessary steps along with repeating commitment to improve the financial situation of Discom and take necessary steps.
The meeting was unanimously decided that the next meeting of a group of ministers will be held in Andhra Pradesh in April.
-IANS
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