Induction Furnace Association urges the PSERC chairman to clear the situation regarding TOD tariff

Ludhiana, September 19, 2017: Induction Furnaces Association North India president KK Garg and general secretary Dev Gupta have said Punjab steel manufacturers particularly furnace industries are in huge crises for last decade as 30% of plants has closed down. Those who are in operation have cut down their production by 8 hours. More than 30% furnace units are on sale in Punjab and there are no buyers. It all has been happened due to availability of cheaper power in neighboring states. Finished goods like Sarya, Wire Rode, Angal Channal and industrial rounds are easily coming from these states at cheaper rate. Electricity is one of the major inputs of induction furnaces.
In a statement here today, the association leaders added that Punjab State Power Corporation Limited has given TOD rebate to it consumer during the period of 1st October to 31st May every year. But this year till dated PSPCL have not issued any circular in this regards. Member of the association has not clear about TOD. There is a panic in the market and price of steel fluctuate. When contacted to the office of Chief Engineer Commercial we come to know that PSERC has not passed Tariff Order for current year and not given any instructions in this Regard.
Punjab Govt. has announced special tariff of Rs. 5 per unit for Punjab industry. But nothing has done on the ground level. Industry has only got only assurance in this regard. No date has been fixed for it.
“Induction Furnace Association urges the PSERC chairman to clear the situation regarding TOD tariff and to request the Punjab Government to give concessional rate as early as possible”, they said.