Hyderabad: On Wednesday, Chief Minister A Revanth Reddy directed officials to implement significant changes in the energy sector. The goal is to enhance power supply efficiency and reduce the financial strain from high-interest loans taken by state power utilities.
To achieve this, the state will introduce a new distribution company, adding to the existing Telangana State Southern Power Distribution Company Limited (TGSPDCL) and Telangana State Northern Power Distribution Company Limited (TGNPDCL). This new company will manage the entire state as a unified entity.
The government plans to maintain free electricity for agriculture and educational institutions. Additionally, poorer sections will receive 200 units of free power through the new company. Reddy explained that forming a third distribution company aims to improve the financial health of power utilities. He believes that strengthening these utilities will boost their national ratings.
The Chief Minister also urged officials to alleviate the current debt burden on power companies. He instructed the Energy Department to create a plan to lower loan interest costs. When told about the 10% interest on loans, Reddy advised restructuring them to secure better rates.
Furthermore, Reddy wants solar power in government schools, colleges, and offices statewide. Solar plants will be set up in all government buildings. District Collectors will identify suitable sites for these installations. Officials must prepare plans for this initiative quickly.
