Public CompanyTorrent Power seeks 15% to 16% hike in tariff
Company files tariff proposal for 2010-11 with GERC.
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Just a week after Gujarat Electricity Regulatory Commission (GERC) turned down its proposal to raise electricity tariff, Torrent Power Ltd (TPL) today again approached the state power regulatory seeking 15-16 per cent hike in power tariff rates.
The private sector company, which supplies power to 21 customers in Ahmedabad, Surat and Gandhinagar, has filed a new tariff proposal for 2010-11 and annual performance review (APR) for the fiscal 2009-10.
"In the previous tariff proposal Torrent had sought 15 per cent hike in power tariff. However, the commission did not allow any increase in the tariff rates. As part of a fresh tariff proposal, the company has sought 15 per cent to 16 per cent raise in electricity tariff," said a source closely monitoring the development.
The new tariff petition and annual performance review has been filed by the company following GERC"s order asking Torrent and state power utilities to file tariff proposals and APR by 15 December, 2009.
It may be mentioned here that Torrent Power had sought 15 per cent increase in power tariff rates for the year 2009-10. However, the commission last week chose not to raise power tariff and order the company to levy prevailing rates. "GERC did not allow hike in rates as most part of the fiscal 2009-10 had passed," the source added. The commission had also pulled up power utilities for not filing APR and tariff proposal in stipulated time frame. The order pertaining to tariff proposal and APRs filed by Gujarat Urja Vikas Nigam Ltd (GUVNL) and its affiliate power companies, the GERC also asked the companies to rationalise electricity duty. It also introduced new tariff category for agriculture.