Covid-19 has created a complex maze of power financing. Lockdown has pulled power demand down by 28%. Energy consumption fell by 25%. Downside in power demand would persist even after lockdown is lifted as subdued economic activity would take around a year to regain the lost height. As an essential service power supply and maintenance continue but meter reading, billing and collection are disrupted. Distribution Utilities (DISCOMs) in India collect Rs 60,000 crore a month from consumers. Traditionally, outstanding dues including subsidies used to be realised in March. High paying industrial and commercial consumers are more or less closed. DISCOMs have to give fixed charge waiver to them for the period of closure, which have implication of thousands of crore. COVID crisis might reduce immediate collections by about Rs.100 thousand crore. Beleaguered DISCOMs with financial losses of Rs 27,000 crore in 2018-19 are likely to make much higher losses in FY20 & FY21. They wo...