NEW DELHI, June 23 (Reuters) – New power rules in India will allow power rate cuts of up to 20% during the day and increases of up to 20% during peak hours at night, the Ministry of Energy said on Friday. Energy in a statement. movement aimed at increasing the use of renewable energy.
The system is expected to reduce demand on the grid during peak hours when many Indian households increase their use of air conditioning after work.
It will take effect from April 2024 for commercial and industrial consumers and a year later for most other consumers, except those in the agricultural sector.
“Since solar power is cheaper, the fee during solar hours will be lower, so the consumer benefits,” Energy Minister RK Singh said in a statement.
“During non-solar hours, thermal and hydroelectric power is used, as well as gas-based capacity, its costs are higher than solar energy, this will be reflected in the hour-of-day rate.”
The move is expected to help India work towards its goal of achieving 65% of its power capacity from non-fossil fuels by 2030 and net zero emissions by 2070.
Reporting by Shivam Patel and Sudarshan Varadhan; Edited by Krishna N. Das and Edwina Gibbs
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