Power Minister RK Singh on Thursday highlighted the potential benefits for Micro, Small, and Medium Enterprises (MSMEs) through Time of Day (ToD) tariffs, where power costs are expected to be at least 20 percent less during solar hours.
The MSME Ministry has not asked for reconsideration of the amended Electricity Amendment Rules specifying the ToD rules, he said in a parliamentary address.
The ToD tariff structure offers distinct rates for peak hours, solar hours, and normal hours, providing price signals to consumers, including MSMEs, to manage their power consumption efficiently by shifting it during solar hours when the costs are lower.
The Ministry of Power through a June 14 notification issued the Electricity (Rights of Consumers) Amendment Rules, 2023 wherein the rule for Time of Day (ToD) Tariff has been specified.
The rule provides ToD tariff for Commercial and Industrial consumers having maximum demand more than 10kW shall be made effective from a date not later than April 1, 2024 and for other consumers except agricultural consumers, it shall be made effective not later than April 1, 2025.
ToD tariff, during the peak period of the day, for Commercial and Industrial consumers shall not be less than 1.2 times the normal tariff and for other consumers, it shall not be less than 1.1 times the normal tariff.
Tariff for solar hours of the day to be specified by the State Commission shall be at least 20 percent less than the normal tariff for that category of consumers.
(Edited by : Pradeep John)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha polls: EC disposes off 90% complaints related to MCC violations
May 14, 2024 4:45 PM
Jharkhand Lok Sabha elections 2024: All about INDIA bloc candidates
May 14, 2024 2:52 PM
SAD's Harsimrat Kaur declares assets worth ₹135 crore
May 14, 2024 1:18 PM
PM Modi files nomination for 3rd term from Varanasi Lok Sabha seat
May 14, 2024 10:15 AM