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Punjab: Electricity fare hiked by over 2 per cent

ANI | Updated: May 30, 2019 07:21 IST

Chandigarh (Punjab) [India], May 29 (ANI): Punjab State Electricity Regulatory Commission (PSERC) announced a hike in electricity tariff for all categories of consumers by 2.14 per cent.
The tariff hike will be applicable to both fixed charges and variable charges and will come in effect from June 1.
"The commission intends to implement the new tariff rates prospectively with effect from June 1, 2019... the effective increase during the remaining 10 months of the year translates to 2.14 per cent. To cover the revenue gap during the remaining 10 months of the year, the commission has decided to increase both Fixed Charges and Variable Charges keeping in mind the Regulatory requirements of keeping the cross-subsidy level within 20 per cent", read the notification from state's electricity regulatory authority.
The hike comes days after the culmination of Lok Sabha elections in Punjab. (ANI)