Vijayawada, Sept. 29 -- In a historic turnaround, the Andhra Pradesh power sector, which has long been debt-ridden, has achieved a remarkable milestone this year by saving as much as Rs 895.12 crore during the last financial year.
Noting these landmark savings in the Fuel and Power Purchase Cost Adjustment (FPPCA), the Andhra Pradesh Discoms would be refunding this money to all electricity consumers in the state starting November this year.
The AP Electricity Regulatory Commission (APERC) on September 27 informed that an expenditure of Rs 1,863.64 crore was incurred under FPPCA, against budgeted Rs 2,758.76 crore or expected earlier for FY 2024-25. This has resulted in savings/reduction of Rs 895.12 crore.
Earlier, the APERC had levied a...