India to cut power tariffs during the day, raise them for peak night hours

New electricity rules in India will allow for cuts in power tariffs of up to 20 percent during the day and increases of up to 20 percent during peak night hours, the Power Ministry said on Friday, in a move aimed at increasing the use of renewable energy.

The system is expected to reduce demand on the grid during peak times when many Indian households crank up their use of airconditioning after work.

It will come into effect from April 2024 for commercial and industrial consumers and a year later for most other consumers except those in the agricultural sector.