New fees for the current fiscal year will take effect tomorrow.
Increased electricity prices have been implemented by the Punjab State Electricity Regulatory Commission (PSERC) for a number of customer categories in the state, including agriculture.
On June 16, the new tariff for the fiscal year 2024–2025 will go into effect. The average cost of supply for this year is calculated to be 715.55 paise per unit, which is 11.21 paise per unit more than the cost of 704.34 paise per unit for the previous year.
A nominal rise of 10 to 12 paise per unit for domestic users and 15 paise per unit for the industry and agriculture sectors, respectively, has been made by the PSERC in its tariff order.
According to PSPCL representatives, the state government will bear 120 crore of the proposed Rs 133 crore pricing hike for the domestic category. The agricultural tariff has been raised by 15 paise per unit, however this won’t affect consumers any more because AP customers receive fully subsidized power. The officials stated, “The approximate amount of the tariff hike in the case of agricultural consumers is around Rs 181 crore.”
The PSERC approved a pricing hike of Rs 654.35 crore for the 2024–25 fiscal year, with the state government bearing the majority of the cost in the form of various section subsidies. The order specifies that some prescribed users will incur an increase of Rs 5 crore.
The commission has approved a 1.59% increase in tariffs overall, translating into a rise of about 11 paise per unit. For domestic category customers with loads up to 7 kW, there is a tariff rise of 10 to 12 paise per unit for the first 300 units. However, most customers won’t be negatively impacted because it is covered by the monthly/bimonthly free supply of 300/600 units.
The Punjab Industrial Policy-2022 calls for an increase in the fixed rates for industrial customers of Rs 5 per kVA and variable charges of 15 paise per unit, both of which will remain part of the current power subsidy. “The entire impact of the industry’s Rs 335-crore subsidies will go toward power subsidies,” authorities stated.