Private sector power player Torrent Power Limited on Monday announced a reduction in the Fuel and Power Purchase Price Adjustment (FPPPA) charges for the current quarter, for its power consumers in the cities of Ahmedabad, Gandhinagar and Surat.
In a statement issued here, the company informed that the cut in the FPPPA will be ?0.80 per unit for the September quarter as against ?1.98 per unit in the comparable quarter of the previous year, showing a reduction of ?1.18 per unit. This will result in a reduction of about 17 per cent in power bills.
This announcement follows the reduction in FPPPA to ?1.30 per unit, already implemented by Torrent in first quarter of the current fiscal year, the company said. The FPPPA charge varies quarter-to-quarter, in accordance with a formula approved by the power regulator, Gujarat Electricity Regulatory Commission (GERC), on account of variations in actual cost of power procurement and volume.
A separate Regulatory Charge of ?0.18 per unit in case of Ahmedabad and Gandhinagar and ?0.17 per unit in case of Surat to recover Torrent’s past approved under-recoveries has been made effective since July 1, 2016, which was not applicable in the previous year.
Even after accounting for the Regulatory Charge, all categories of consumers in Ahmedabad, Gandhinagar and Surat will, on a net basis, save ?1 per unit as compared to previous year on account of the reduced FPPPA charge, the company informed. Charles Johnson Authentic JerseyShare This