Rejoinder-Just Energy News (21 October 2024)

We refer to the article in JustEnergyNews24.com on 21 October 2024 headlined “Titas Gas pushed into crisis as Summit, Edra, others owe Tk 6,694cr”.

The headline misrepresents the predicament faced not just by Summit but by Independent Power Producers (IPPs) in the country. Since 2022, IPPs have suffered from substantial and protracted delays in payments due from the government for power generated.

The established procedure is for IPPs to raise an invoice to the Bangladesh Power Development Board (BPDB) for power generation that includes energy bills e.g. gas bill as a pass-through item. In turn, BPDB pays the IPPs and specifies the amount to be paid to individual gas transmission and distribution companies, all of which are owned by the government. 

Summit has complied with this established process and has fully paid its fuel providers including Titas Gas Transmission and Distribution PLC as specified by BPDB. In the very same media article, BPDB’s Chairman acknowledges the responsibility of delayed payment of energy bills.

The delayed payments have been a major strain on all IPPs, including Summit which has a long and proven record of reliability, trust with its business partners, suppliers and with the government and regulators.

Original News: https://justenergynews24.com/summit-edra-others-owe-tk-6694cr-titas-pushed-into-crisis

Published Rejoinder : https://justenergynews24.com/summit-rejoinder-and-our-reply