Power shocker in Punjab: Electricity tariff likely to go up by 70 paisa to 90 paisa per unit
Report by Gagandeep Ahuja from Patiala: Punjab State Power Corporation Limited (PSPCL) has sought a revenue of Rs 43,724 crore for the upcoming financial year. This marks a significant increase of almost Rs 7,000 crore compared to the Annual Revenue Requirement (ARR) of the previous year.
If approved, electricity tariff in the state is likely to go up by 70 paisa to 90 paisa per unit. As per information, the losses of Punjab State Power Corporation Limited are expected to rise to Rs 14,109 crore during FY 2023-24.
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The cumulative revenue gap during the current FY stands at Rs 9.961. Further, the subsidy provided by the government is expected to rise to Rs 18,104 crore, along with any carry forwards. The employee cost for PSPCL is also expected to increase to Rs 6,827 crore.
In addition to these expenses, PSPCL will also have to pay an interest of Rs 740 crore. The power utility is also liable to pay Rs 1,684 crore to the Punjab Government as return on equity for the bonds issued to PSPCL under the UDAY scheme.
Sources said the cost of power was expected to be Rs 28,118 crore, with revenue from the existing tariffs pegged at Rs 38,604 crore.
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PSPCL has also planned for a capital expenditure of Rs 1,757 crore to ensure that its capabilities as a power generator and distributor remains intact. The number of domestic connections is also expected to rise to 7,855,057.
- PTC NEWS
