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Polls over, new power tariff rates in Pb soon

May 22, 2019 06:14 AM


Polls over, new power tariff rates in Pb soon


The Punjab State Electricity Regulatory Commission (PSERC) is all set to announce the new power tariff rates across categories soon. The Punjab State Power Corporation Limited (PSPCL), in its annual revenue requirement (ARR) filed with the PSERC, had sought a hike of around 8% to 14% on various categories of consumers in November 2018. However, the state government that had been in line of fire for inflated power bills and put off the revision of the power tariff till the Lok Sabha elections.

The PSPCL has already sought a substantial hike to cut down revenue deficit and the carry forwards that had been imperilling its financial health for the last few years. The corporation had been able to bring down its losses during the last fiscal by selling the surplus power that was available to the state, but still it had filed an petition with the regulator to enhance the tariffs to cover up for the revenue deficit from the previous years.

Last time, the PSERC had allowed a 2.17% hike in the power cost.

It is to be mentioned that the power subsidy bill has also been a cause of concern for the PSPCL as it has touched Rs 14,000 crore mark.

The PSPCL in its tariff petition for the next financial year 2019-20 has projected subsidy at Rs 9,073 crore. This comprises Rs 6,454 crore for free power to the agriculture sector, Rs 1869 crore for concessional tariff for the industrial sector and balance amount for different domestic consumers categories. The carry forward from previous years is Rs 4768.65 crore

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