Electricity rates are set to experience fluctuations under different phases of adjustment. Starting with the three-month adjustment period extending till September, prices will increase by 1.25 rupees per unit, leading to an estimated accumulation of 39 billion rupees.
Following this, during the fuel adjustment phase spanning from September to December, a steeper escalation of 4.37 rupees per unit is expected, contributing to a collection of approximately 122 billion rupees. This will be followed by an annual re-pricing mechanism that will raise the cost by 5.75 rupees per unit, resulting in a cumulative collection of about 560 billion rupees.
Sources within the Ministry of Finance have highlighted that the funds obtained through these measures will be allocated towards alleviating the prevailing circular debt within the energy sector.
Notably, a definitive cap of 2.13 trillion rupees has been imposed on the circular debt within the power sector. This cap will remain effective until the conclusion of the ongoing fiscal year. This cap reflects a substantial reduction from the 270 billion rupees recorded by June 2023.w
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