[ad_1]
By India Today Web Desk: As Kannadigas waited for the assembly election results with bated breath, the state raised the power tariff by 70 paise per unit across categories, in one of the steepest hikes in a decade. The revised tariff is effective from April 1, 2023.
Karnataka Electricity Regulatory Commission (KERC) gave its nod to the 70-paise tariff hike on May 12. Out of the 70 paise, 57 paise will be recovered through fixed charges, and the remaining 13 paise will be recovered as energy charges.
ALSO READ | Karnataka Congress chief DK Shivakumar breaks down on camera as party inches closer to victory | Watch
“To bridge the approved revenue gap of Rs 4,457.12 crore, the commission has approved an average increase in consumer tariff by 70 paise per unit in all categories, which accounts for an overall increase of 8.31 percent,” a KERC order said.
Electricity supply companies (Escoms) had demanded a hike of Rs 1.39 per unit to bridge the revenue deficit of Rs 8,951.20 crore for FY24.
The commission, in its press release, stated that the revision was necessitated due to a 13 percent increase in power purchase cost, caused by the rise in the cost of coal and transportation, a revision of pay and allowance of employees by 20 percent, a 30 percent increase in interest and finance charges, and a 15 percent increase in depreciation.
ALSO READ | As BJP loses Karnataka, a look at six factors that played role in its defeat
[ad_2]
