Thiruvananthapuram: The Kerala State Electricity Board (KSEB) faces an economic crisis reminiscent of KSRTC, according to its Chairman, Dr. Biju Prabhakar. Inadequate planning and mounting financial burdens have pushed the organization into a precarious situation, necessitating urgent reforms. With monthly revenue averaging ₹150 crore against expenditures of ₹1,950 crore, KSEB is forced to rely on overdrafts of ₹400 crore monthly, accruing significant interest liabilities.
Critical challenges include high electricity import costs, projected at ₹14,000 crore this year, and growing dependency on external sources even during the monsoon season. Kerala experienced power deficits ranging from 500 MW to 1,000 MW on several days this year, highlighting the need for enhanced capacity. Without timely interventions, the state risks acute power shortages in the future.
Dr. Prabhakar emphasized adopting a public-private partnership (PPP) model to attract investments and modernize operations. One proposal suggests renaming Renewable Power Corporation as Kerala State Green Energy Corporation to facilitate green initiatives. Innovative measures, such as raising bonds and investments from employees, industrial consumers, and the public, could secure the required funding.
Small hydroelectric projects under 25 MW may be implemented by local bodies and startups, while larger projects would seek external investments. The estimated cost of planned projects over the next seven years is ₹45,000 crore. Reform discussions are ongoing, with feedback from officers’ organizations expected by December 10. The roadmap also includes employee restructuring and revenue-sharing mechanisms to attract investors.
