Chandigarh: PSERC power regulator in Punjab on Saturday said it will announce the multi-year electricity tariff after consultations with the new government in the state. The Punjab State Electricity Regulatory Commission (PSERC) will announce the multi-year tariff for 2017-18, 2018-19 and 2019-20 for the first time in the state.
The PSERC will announce the multi-year tariff for 2017-18, 2018-19 and 2019-20 for the first time in the state.
It will comprise electricity tariff for one year and indicative tariff for the next two years, while determining the Annual Revenue Requirement (ARR) for power utilities Punjab state power corporation and Punjab state transmission corporation.
As per rule, PSERC has to take call on electricity tariff within 120 days of the submission of ARR by the power utilities and the power regulator has the time till March 31 to decide on the new tariff proposal.”
Our process is going on. We have 120 days period from the date when ARR was submitted on November 30. We will definitely wait for the new government and we will definitely consult the new government (before announcing multi -year tariff),” PSERC Chairman D S Bains told reporters here.
He was replying to a question that whether PSERC will wait for the formation of new government before announcing tariff. The commission would give “sufficient” time to the new government in the state to decide its “own policy,” he said.
“ there will be decisive verdict (poll result). If not then we will wait and not be in a hurry to announce the tariff We will give sufficient time to the new government,” he said. “Before the end of March, we would like to give it to the government to decide its own policy what it wants to do and we will faithfully implement whatever is the directive of the government on subsidy,” he said.
The commission is required to get written consent from the state government on bearing financial burden on account of power subsidy announced for any section of the society. Notably, major political parties including Congress, SAD-BJP (coalition) and AAP have announced free power for farmers if voted to power.
The result of Punjab elections will be announced on March 11. Punjab witnessed three-cornered contest between SAD-BJP, Congress and AAP on February 4 assembly polls.
Power subsidy burden on the state exchequer was estimated to be Rs 6,364 crore in current financial year on account of free power to farmers, free power of 200 units to SC domestic consumers and BPL consumers.
Bains asserted that there should be a public debate on the power tariff to fix them on sound commercial principles so that power utility remained financially sound to generate power.
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