Report of Indian Institute of Public Administration ... - Ministry of Power

Nov. 1995 The Orissa Electricity Reform Act, 1995 passed.
State Reports (Vol.-III)
Study on `Impact of Restructuring of SEBs’
3 January 1996 The Orissa Electricity Reform Act, 1995 assented by the President of
India.
March 1996 The State Government notified 1 April 1996 as the date on which the
Orissa Electricity Reform Act, 1995 shall come into force.
1 April 1996 OSEB split into GRIDCO and OHPC. GRIDCO takes over the
transmission and distribution and OHPC takes over the hydel generation
business of OSEB.
July 1996 Orissa Electricity Regulatory Commission constituted.
19 November 1997 GRIDCO divided its distribution functions into four geographical zones,
namely, Western Zone, Northern Zone, Southern Zone and Central Zone.
GRIDCO incorporated four wholly-owned subsidiaries namely, WESCO,
NESCO, SOUTHCO and CESCO under the Companies Act, 1956.
28 November 1997 The process of private sector participation in distribution segment initiated
with the issue of press advertisements inviting Request for Qualification
(RFQ) regarding disinvestment of 51 per cent equity share capital held by
GRIDCO in the distribution companies.
February to
November 1998
• 54 companies purchased RFQ from GRIDCO
• 13 companies/consortium submitted Statements of Qualification
• 11 companies/consortium qualified to participate in the privatisation
process
• Due diligence process completed.
26 November 1998 Section 23 of the Orissa Electricity Reform Act amended, empowering the
State Government to notify the Transfer Scheme to transfer and vest in a
subsidiary company of GRIDCO, any undertaking or part thereof
comprising property, interest in property, rights and liabilities and
personnel, etc., on such terms and conditions as may be specified in the
Transfer Scheme. Pursuant to the above, Orissa Electricity Reform
(Transfer of Assets, Liabilities, Proceedings and Personnel of GRIDCO to
Distribution Companies) Rules, 1998 notified by the State Government.
14 January 1999 Three companies/Consortium submitted their Technical and Financial bids
namely BSES Ltd., TEC-Viridian Consortium and Singapore-Grasim
Industries Consortium.
27 March 1999 State Government accepted the recommendation of the Board of GRIDCO
and conveyed its approval for the disinvestments of equity in distribution
companies.
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