THIRUVANANTHAPURAM: Of the four long-term power contracts that the Regulatory Commission canceled following the discovery of irregularities, three companies have agreed to supply electricity at the contracted rates for the next two months. With this, KSEB has overcome the crisis. Only one company filed a complaint against the decision of the Regulatory Commission in the Appellate Tribunal. KSEB had a shortfall of 465 MW with the cancellation of the contract.

With the onset of monsoon, there is a reduction in electricity consumption in the state. Consumption was 63 million units yesterday. There is no need to buy from outside now. It is estimated that there is no significant crisis till July 15. Water will reach the dams by then with the improvement of the monsoon. Minister has called a high-level meeting to decide on new power purchase agreements today.

The Regulatory Commission had canceled contracts to provide 465 MW of electricity for an extended period at low rates. The agreements with Jindal India Power, Jindal India Thermal Power and Jhabua Power were the ones that had been canceled. The contract was made to purchase electricity at the rate of Rs4.50