THIRUVANANTHAPURAM: Leader of the Opposition VD Satheesan alleged conspiracy and corruption by the government and the Regulatory Commission behind the cancellation of the long-term power contract during the UDF government. The Regulatory Commission has been turned into a government-sponsored body by inducting party nominees. It was they who helped the government to commit corruption. He alleged that it should be suspected whether the corruption happened with the knowledge of the Chief Minister by keeping the Power Minister in the dark.

Five months after its cancellation, the cabinet decided to restore the UDF government-era agreement to throw dust in the eyes of the people. The role of the government in the cancellation of the contract and the subsequent transactions should be investigated. Satheesan said that there is a move to impose the liability of KSEB from the cancellation of the contract on the people as a surcharge.

'This will be resisted at any cost. The UDF-era power deal has played a major role in ensuring the financial viability of the electricity board till 2022 and the Left government's now termed 'load-shedding-free Kerala'. If the contract was illegal, then why did they fake excellence by buying electricity at a low rate as part of this contract for the last seven years? After cancelling the contract on May 10, 2023, they have been buying electricity for five months at a daily cost of Rs 3 to 8 crore. Through this, KSEB has suffered a loss of at least 750 crore rupees.- Satheesan pointed out.

During Aryadan Muhammed's power ministership, contracts were signed with Jindal India Power, Jindal India Thermal Power and Jabua Power to purchase 465 megawatts of electricity for 25 years. The contract was fixed at the then lowest rate (4 rupees 29 paise). This contract was cancelled on the grounds of a trivial technicality. Meanwhile, the power price in the short-term contract submitted by the board now ranges from Rs 5.50 to Rs 6.88 per unit on average. Jindal Power, which was earlier contractually obligated to supply electricity for 25 years at 4.29 paise, quoted between Rs 5.42 and 5.46.

Only 25 percent of the electricity requirement is generated in the state. Therefore, the campaign that there is a power crisis and a rate hike is due to the decrease in water in the dam is only a part of an attempt to cover up corruption and governance failure, he alleged.