Speculation is rife in Uttarakhand regarding the trajectory of electricity prices in the upcoming year, with indications pointing towards an inevitable rise. The burden of inflation is expected to impact consumers, with the increased electricity rates slated to take effect from April 1, 2024. This follows a 9.68 percent increase in rates this year and a 2.68 percent increase last year, as sanctioned by the Regulatory Commission.
- Electricity Prices Set to Surge in Uttarakhand from April 1, 2024p
The Uttarakhand Power Corporation Limited (UPCL) has formulated a proposal outlining the surge in electricity prices, causing concerns among the state’s 27 lakh consumers. UPCL has sought an extension until December 23 to file a petition regarding the power price hike with the Regulatory Commission, pushing back the initial deadline of November 30.
Sources suggest that UPCL’s proposal recommends a substantial increase ranging from 25 to 30 percent. The proposal is slated to be presented in a meeting scheduled for December 16. The driving factors behind this proposed increase include excessive taxes incurred through power procurement at higher market prices and an expenditure of approximately Rs 3900 crore on securities acquired during the division from Uttar Pradesh.
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