17th July 2024- The Tamil Nadu Electricity Regulatory Commission (TNERC) has announced a hike in electricity tariffs across various consumer categories in the state. The tariffs will increase by 2.18%, as per the multi-year electricity tariff order, based on the consumer price index. This adjustment is lower than the potential maximum increase of 4.7%.
According to the revised tariff, domestic consumers will see an increase ranging from 5 to 40, depending on their usage category, as stated by the Tamil Nadu Generation and Distribution Corporation (TANGEDCO). The provision of free power up to 100 units for all domestic consumers and subsidies for handlooms, agriculture, and places of worship will continue.
For the 63 lakh domestic consumers using up to 200 units over two months, the increase will be a maximum of 5 per month. For the 35 lakh domestic consumers using up to 300 units over two months, the new tariff will result in a maximum increase of 15 per month. Consumers using 400 units and 500 units over two months will see an increase of 25 and 40 per month, respectively.
TANGEDCO reported a significant financial loss, escalating from 18,954 crore in FY12 to 94,312 crore over the past decade. The company has been forced to take loans due to past non-commitments and the current government’s commitment to absorbing 100% of the costs from 2021-22, resulting in the loan amount rising from 43,493 crore in FY12 to 1,59,823 crore in FY22.
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