New Delhi, Nov 13: Central power regulator today said new power tariffs would be announced by the next month for a period of five years beginning April 2004 and steps would be taken to prevent "disproportionate" hike in electricity rates. "We will come out with our new tariff rates by December. We are looking at various suggestions including fixing the new rates for a period of five years for imparting a greater degree of stability," A K Basu, Chairman of Central Electricity Regulatory Commission (CERC), told reporters here.
Asked if the new regime would provide a succour to electricity consumers in terms of lower charges, Basu said attention would be paid to rebalance tariffs (cutting down subsidies in one area to lower burden on others) and ultimately it would be our objective to see if tariffs could be lowered.
"There are no free lunches. Everyone whosoever uses power must pay for it," he said when asked if CERC would strive to cut subsidy or free power in agriculture sector as it was making tariff higher for industrial consumers.
CERC has held discussions with various stakeholders including states, central power PSUs, private sector and distribution companies, Basu said adding the final regulation should be out by end of the next month to be implemented from April next year.
Bureau Report