Shunglu panel on discoms to submit report in Aug or Sept

NEW DELHI: The Shunglu Committee looking into the financial health of power distribution companies will submit its report in August or September. "The committee will submit its report sometime in August or September," Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters today.

The high-level committee is chaired by former Comptroller and Auditor General V K Shunglu.

The committee's terms of reference include a review of the accounts of state electricity boards and power distribution companies (discoms). The panel is also looking into the financial health of the discoms, apart from reviewing electricity tarrifs.

Singh said the report will be sent to the Power Minister, as well as all Chief Ministers.

According to the Planning Commission's estimates, electricity distribution losses totalled a whopping Rs 70,000 crore in 2010-11.

There are growing concerns that the huge losses incurred by power distribution utilities could adversely impact investment in the power sector.

There are about 73 distribution utilities in the country.