UPCL will present a proposal for a 16% increase in electricity rates to the Regulatory Commission next week. After approval at the board meeting, a petition is being prepared. This time, UPCL will seek reimbursement for expenses incurred over the past nine years. The corporation has demanded an increase of approximately 2.5%, in addition to the true-up.
UPCL was originally scheduled to file its petition by November 30th, but due to delays, the corporation sought an extension from the Regulatory Commission until December 17th. Now, the UPCL board meeting has approved the petition and decided to cover the ₹2,000 crore gap. Consequently, this will result in an increase in electricity rates of approximately 16%.
The Regulatory Commission had not approved the capitalization of all the work UPCL had completed from the financial year 2016-17 to 2024-25. This time, ₹976 crore has been included in the petition. UPCL MD Anil Kumar stated that a total of ₹1,343 crore has been demanded in the true-up for the last financial year.
This petition is being filed to recover a total of ₹2,000 crore. The petition will be filed by December 10th next week. After examining the petitions from the three energy corporations, the regulatory commission will hold a public hearing. It will then issue a decision, which will be implemented across the state from April 1st
