Torrent Power (TPL) today said the Gujarat Electricity Regulatory Commission (GERC) has approved imposition of regulatory charge (RC) at 45 paise per unit in a bid to recover company's past dues of Rs 470.5 crore.
GERC on March 31, 2016, had issued tariff orders for Ahmedabad Generation, Ahmedabad Distribution and Surat Distribution of Torrent Power Ltd for truing-up of its financials for 2015-16 fiscal and determination of tariff for 2016-17 fiscal, it said in a regulatory filing.
The orders are effective April 1, 2016, it added.
GERC has approved "recovery of past period gaps (net of revenue surplus for 2016-17 fiscal) of Rs 470.50 crore by way of regulatory charge at 45 paise per unit", the filing said.
Recovery of Regulatory Charge has to be stopped once the said gaps are recovered in full during the year, it added.
While allowing such Regulatory Charge, GERC has endeavoured to reduce the electricity bill of consumers by 18 paise per unit at Rs 1.35 a unit compared with the present FPPPA of Rs 1.98 a unit in view of the recent trend in reduction in fuel price, it said.
