Government of India Introduces New Electricity Tariff Plan
The Government of India has announced a new electricity tariff plan that will bring separate rates for day and night electricity usage. This new plan will affect those who use air conditioners at night to beat the heat, as they may end up paying more for electricity bills.
Here are the key details of the new tariff plan:
Reduced rates during the day: The new plan will offer a 20 percent reduction in electricity rates during the day, compared to the current rates.
Expensive peak rates at night: During peak hours at night, the electricity rate will increase by 10 to 20 percent. This will encourage consumers to avoid high electricity consumption activities during peak hours.
Implementation date: The new system will be applicable from April 1, 2024, for commercial and industrial consumers with a demand of 10 kW and above. It will be applicable from April 1, 2025, for all other consumers except agriculture.
Two changes in electricity tariff system: The Ministry of Power has amended the Electricity Consumer Rights Rule 2020, making two changes to the existing electricity tariff system. These changes are related to the introduction of the Time of Day (TOD) fee system during the day and smart meters.
New system details: Under the new tariff system, the rate of electricity during the day will be 10 to 20 percent less than the normal rate, while this rate will be 10 to 20 percent higher during peak hours, especially at night.
Union Power and New and Renewable Energy Minister RK Singh believes that the TOD system will benefit both consumers and electricity providers.
This new tariff plan will encourage consumers to use electricity during off-peak hours, leading to lower electricity bills and reduced pressure on the power grid during peak hours.
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