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Home News Power Sector News TNERC fixes Rs 1,652.43 cr. subsidy payable by state to TNEB

TNERC fixes Rs 1,652.43 cr. subsidy payable by state to TNEB

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TNERCThe Tamil Nadu Electricity Regulatory Commission (TNERC) has fixed the subsidy payable by the state government to the Tamil Nadu Electricity Board (TNEB) at Rs 1,652.43 crore for 2010-11. “The subsidy is in line with the provisions of the Electricity Act 2003, which provides for the payment of the subsidy when the state government opts to levy a tariff lower than that determined by the regulatory commission,” the regulator said in a press release.

It was estimated around Rs 1,249 crore or 76 per cent of the subsidy is towards compensating for the tariff levied for domestic consumers. They are partially subsidised at about 35 paise to Rs 1.75 a unit; about 13 per cent.

A sum of Rs 219 crore is meant for agricultural consumers, who are fully subsidised, and the balance 11 per cent — Rs 184 crore — has been allotted to hut consumers, who are also fully subsidised, handloom weavers, power loom weavers, street lights, public water supply and for places of public worship.

According to the release, Section 65 of the Electricity Act, 2003, mandates the state government to pay the subsidy in advance, failing which the tariff fixed by the state commission would be applicable. The subsidy calculation is based on existing tariff.

The state electricity board has since filed a petition for revision of tariff.

Source- Business standard
 

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