June 19, 2024
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Power rates will be 20% lower during the day and higher during the busiest hours at night

The action is anticipated to contribute to the country’s goal of generating 65% of its energy needs from non-fossil fuels by 2030 and reaching net zero emissions by 2070.

In an effort to boost the use of renewable energy, new electricity regulations will permit price rises of up to 20% during peak night hours and price decreases of up to 20% during daytime hours.

The technique should lower grid demand at periods when many families turn up their air conditioning use after work.

Commercial and industrial users will be subject to it beginning in April 2024, and most other consumers—with the exception of those in the agricultural sector—will be subject to it a year later.

“Since solar power is cheaper, the tariff during the solar hours will be less, so the consumer benefits,” Power Minister RK Singh said in a statement.

“During non solar hours thermal and hydro power as well as gas based capacity is used – their costs are higher than that of solar power – this will be reflected in time-of-day tariff.”

The move is expected to help work towards its target of achieving 65% of its energy capacity from non-fossil fuels by 2030 and net zero emissions by 2070.

Picture Courtesy: Google/images are subject to copyright

 

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