Former YSR Congress Party MP Margani Bharat has alleged a massive ₹11,000 crore power sector scam under the leadership of Andhra Pradesh Chief Minister N Chandrababu Naidu, accusing his government of striking overpriced electricity deals with Axis Energy Ventures.
Addressing the media on Tuesday, Bharat claimed that Naidu’s administration is draining the state treasury and burdening citizens, and vowed that the YSRCP would fight for justice in the people's court.
"Naidu’s 11-month rule has turned Andhra Pradesh into a scam capital," he said. "Benami companies like Axis Renewable Energy Park Pvt. Ltd. are selling 100 MW of power at ₹4.60 per unit — the highest rate in India — resulting in ₹440 crore per year and ₹11,000 crore over 25 years."
In comparison, he highlighted former Chief Minister Y S Jagan Mohan Reddy’s SECI deal, which secured 7,000 MW of solar power at ₹2.49 per unit, potentially saving the state ₹1.1 lakh crore over 25 years.
Bharat pointed out that despite once labeling Jagan’s deal corrupt for offering power at ₹1.99 when the market average was ₹5.13 per unit, Naidu is now buying power at almost double that rate.
“How can Naidu justify ₹4.60 per unit?” Bharat questioned, presenting old news clippings to challenge what he called “yellow media” propaganda.
He also accused Naidu of other irregularities, including a ₹3,000 crore land scam in Visakhapatnam (allegedly sold for a pittance in the “Ursa” scam), mismanagement in the sand and liquor sectors, and administrative negligence that led to tragic incidents: the Simhachalam wall collapse (7 deaths), the Tirupati stampede (6 deaths), and the deaths of cows at Tirumala.
“Naidu’s rule is marked by chaos, corruption, and the loss of both lives and sacred values,” Bharat said, adding that power bills have nearly doubled, with a ₹15,000 crore burden placed on citizens.
He cited SECI’s recent Reliance power deal at ₹3 per unit as proof of better options, questioning why Naidu was paying ₹4.60 per unit instead.
"This scam demands a full CBI probe,” Bharat asserted, accusing Naidu of shielding close allies while shifting blame onto officials for the government's failures.
