As said by Shri Sushilkumar Shinde (Power Minister), the proposal for setting up of National Electricity Fund (interest subsidy scheme) to provide interest subsidy for the loans taken by the utilities/departments/state electricity boards is before the Cabinet.
The Fund is expected to service works undertaken to strengthen and upgrade sub-transmission and distribution network in order to reduce AT&C losses and service increased load.
The states, which have undertaken certain fundamental reforms in the electricity sector are proposed for being eligible to avail interest subsidy and quantum of interest subsidy is proposed to linked to performance of the utility on reduction in AT&C losses, reduction in gap between actual cost of supply and average revenue realisation, provision of return on equity and multi-year tariff.
Other interventions for reducing commercial losses are incorporation of specific provisions in the Electricity Act, 2003, for detection of theft of electricity, speedy trial of theft related offences and recovery of the charges of electricity stolen.
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