Electricity rates may increase by 8 to 10 percent
Pitkul and UJVNL filed petitions in the Electricity Regulatory Commission
Uttarakhand Power Corporation may propose to the Electricity Regulatory Commission to increase the electricity rates by 8 to 10 percent from the new financial year. The corporation has to file its petition in the commission by 30 November.
On Friday, the corporation’s managing director BCK Mishra and his team went through the day to finalize the petition. UPCL will file a petition by Saturday. According to the secretary of the commission Neeraj Sati, Pitkul and UJVNL have filed their petitions in the commission.
UPCL has increased by nearly nine percent
On the other hand, facing the fiscal deficit, UPCL has increased the electricity rates by about nine percent in this financial year. For the first time, the Corporation had to file petitions twice in a single session to recover from its losses.
The Commission approved the proposal of electricity rates on its petition. After increasing the electricity rates twice, the corporation is under pressure not to make electricity rates too expensive again. As his expenses are likely to increase during the coming financial year.
8 to 10 percent increase proposed
It is believed that in its proposal, the corporation can propose to increase the overall electricity rates of the domestic, commercial, agricultural sector by 8 to 10 percent. The arguments that the corporation has prepared in its favor.
This includes, apart from the financial losses, the possible increase in electricity rates purchased from companies, the increase in expenses in salaries, allowances and other items after the Seventh Pay Commission. It has prepared a proposal for its Annual Revenue Requirement (ARR) to meet these expenses.
The commission will hear the proposals
After receiving the Petition’s proposal, the Electricity Regulatory Commission will go to a public hearing in December. After the public hearing, the commission will determine the electricity rates. That is, there may be a change in the proposal of electricity rates in the corporation’s petition.
According to the secretary of the commission, Neeraj Sati, after receiving all the petitions, they will be tested and after that, the process of the public hearing will begin. After listening to all the parties and after testing and study, the commission will determine the rates.