Odisha govt to extend financial guarantee support to GRIDCO

The Odisha government has decided to extend necessary financial guarantee support to GRIDCO (Grid Corporation of Odisha) as the demand for power had dipped by 14 per cent during the lockdown period from March to June 2020 in comparison to the previous year.

In view of the reduction in demand, the revenue gap of GRIDCO has widened, as it has to pay the fixed charges to power generating plants as per power purchase agreement. The captive generation and consumption in the state has also reduced by 25 per cent in April 2020, 12 per cent in May 2020 and 2 per cent in June 2020.

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