Tripura hikes power tariff by 7% effective Oct 1

However, if a consumer pays his or her bill within a week of receiving the statement, he or she will get a rebate of 5 per cent, Tripura Power Minister

If you live in Tripura, then get ready to pay more for the power you consume. The Tripura State Electricity Corporation Ltd (TSECL) has decided to hike power tariff by 7 per cent from October 1. However, if a consumer pays his or her bill within a week of receiving the bill, he or she will get a rebate of 5 per cent.

The Corporation, once a profit making government entity, has been incurring losses since 2021-22. It reported a loss of Rs 80 crore in the first three months of the current financial year, media reports said. The last time the Corporation revised power tariff was in 2014-15.

Senior TSECL officials were quoted as saying that the tariff hike decision was taken after all factors were taken into consideration and post consultation with the Tripura Electricity Regulatory Commission (TERC). Rise in cost of gas has been cited as the main reason for the hike in cost of power.

Addressing the media yesterday in Agartala, Tripura Power Minister Ratan Lal Nath said that the significant surge in global gas prices has put additional stress on state-owned TSECL and the TERC also found no other option but to hike the tariff.

“We used to procure gas at 2.90 US dollars, roughly equivalent to Rs 238.32 per MMBtu (Metric Million British Thermal Unit). However, in 2022-23, prices soared to 8.57 US dollars, translating to Rs 704.29 in Indian currency. This marks a staggering 196 per cent increase in the cost of gas, which is essential for thermal power production. While other states rely on hydroelectric or alternative power generation systems, our energy production units are gas-based, leaving us vulnerable to such fluctuations,” the Minister said.

Stating that during the Left’s rule, tariffs were revised several times resulting in an aggregate tariff increase of 134 per cent, the Minister pointed out that the electricity rates were left untouched from 2015 to 2023. “Following a rigorous process, including public hearings, addressing objections, and consulting consumers and advisory bodies, a seven per cent increase was mandated by the regulatory body. Neither TSECL nor the Power Department possesses the authority to alter energy rates.”

Trying to assuage the concerns of the people, the Minister said, “Consumers who settle their bills within seven days of receiving their bill will receive a flat five per cent rebate. Effectively, the hike will just be 2 percent for all the alert consumers”.

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