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Coronavirus company news summary – Indian discoms’ power dues increase by 29% – Covid-19 to add to New York’s winter woes

07 Dec 2020 (Last Updated December 7th, 2020 09:44)

7 December

The total dues distribution companies owe to power producers in India surged over 29% to $18.7bn in October, compared with $14.4bn in the corresponding period in 2019. The discoms are generally given a 45 day window to clear the outstanding bills, after which generators levy penal interest on companies. The Indian government made some relaxations this year vis-à-vis payment of dues considering the economic slump triggered by coronavirus pandemic related lockdown.

New York is bracing for the winter season’s power disruptions, which are expected to be exacerbated by ongoing pandemic as coronavirus cases continue to rise across the state. Emergency response teams are coming up with contingency plans in case of power disruptions. Utilities are isolating important workers to ensure their safety, as they will play a pivotal role in resolving production and supply issues that could arise during the upcoming season.