Dark nights loom as discoms default

Debt-ridden power distribution companies (discoms) have started defaulting on payments for merchant power, triggering supply cuts that could sink many parts of the country into darkness. In what looks like a throwback to the situation more than a decade ago, discoms from at least two major states — Uttar Pradesh and Tamil Nadu — have failed to keep their payment obligations to PTC India, the country’s leading power trader and co-promoter of the fledgling national power exchange.

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