PSERC announces 2.74% hike in power tariff across the board. It will be applicable from April 1, 2014.
State owned power utility Punjab State Power Corporation Ltd (PSPCL) had projected revenue gap of Rs 2,595.30 crore for 2014-15 in its Aggregate Revenue Requirement (ARR) petition filed with power regulator.
The announcement of new power tariff for 2014-15 was delayed because of imposition of model code of conduct in view of Lok Sabha elections this year. In normal course, the new power tariff is announced in the month of April.
In view of the by-polls in Talwandi Sabo and Patiala, voting for which was held on Thursday, the power regulator PSERC had also sought permission from the Election Commission to announce the new power tariff.
The PSERC is also learnt to have received consent from Punjab government with regard to subsidy burden on account of free power to farm sector, Scheduled Caste and non-SC BPL consumers.
The power subsidy burden has been projected at Rs 5,300 crore for 2014-15.
The state industry has demanded from the state government not to allow hike in power tariff, claiming it will have a negative impact on the state industry.