Kolkata-based RPSG Group has officially taken control of the Chandigarh Electricity Department through its subsidiary, Eminent Electricity Distribution Limited (EEDL).
This marks a major transition in the city's power distribution sector, impacting over 2.35 lakh consumers, The Indian Express reported.
Despite persistent protests from employees, the privatisation process remained on course.
On Friday (January 31), a Share Purchase Agreement was signed between the Chandigarh administration, EEDL, and Chandigarh Power Distribution Limited (CPDL), solidifying the handover.
EEDL acquired the Electricity Wing of the Engineering Department, Chandigarh (EWEDC), for Rs 871 crore—far exceeding the reserve price of Rs 174 crore. Following approvals from the Punjab and Haryana High Court in November 2024 and the Supreme Court in December 2024, the takeover has now been fully implemented.
As part of the transition, CPDL has assumed ownership of EWEDC’s assets, liabilities, and power purchase agreements. Employee service conditions will remain unchanged, and a Pension Trust has been established for their welfare.
With this move, Chandigarh joins other regions like Dadra & Nagar Haveli and Daman & Diu, where power distribution was privatised in April 2022. CPDL, now wholly owned by EEDL, operates as a subsidiary of CESC Limited—the flagship company of the RPSG Group.
The takeover is effective immediately, ushering in a new era in Chandigarh's power distribution landscape.
This marks a major transition in the city's power distribution sector, impacting over 2.35 lakh consumers, The Indian Express reported.
Despite persistent protests from employees, the privatisation process remained on course.
On Friday (January 31), a Share Purchase Agreement was signed between the Chandigarh administration, EEDL, and Chandigarh Power Distribution Limited (CPDL), solidifying the handover.
EEDL acquired the Electricity Wing of the Engineering Department, Chandigarh (EWEDC), for Rs 871 crore—far exceeding the reserve price of Rs 174 crore. Following approvals from the Punjab and Haryana High Court in November 2024 and the Supreme Court in December 2024, the takeover has now been fully implemented.
As part of the transition, CPDL has assumed ownership of EWEDC’s assets, liabilities, and power purchase agreements. Employee service conditions will remain unchanged, and a Pension Trust has been established for their welfare.
With this move, Chandigarh joins other regions like Dadra & Nagar Haveli and Daman & Diu, where power distribution was privatised in April 2022. CPDL, now wholly owned by EEDL, operates as a subsidiary of CESC Limited—the flagship company of the RPSG Group.
The takeover is effective immediately, ushering in a new era in Chandigarh's power distribution landscape.
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