New Delhi: The central government may soon approve the new power rate policy. The Ministry of Power has sent a draft of the new electricity rate policy for Cabinet approval and it is expected to be approved soon. According to this new policy, if the power is cut except for a disaster or technical reasons, the distribution companies concerned will have to pay damages and the money will go directly to the customers account. The penalty will be decided by the State Electricity Regulatory Commission.

According to sources, the new tariff policy has been sent to the cabinet and is expected to be approved soon. Finance Minister Nirmala Sitharaman, in her budget speech in July, emphasized structural reforms to achieve the target of one country one grid. The Finance Minister had said, 'We will work with the state governments to remove barriers such as cross subsidy charges, undesirable duty on open sale or captive production (for private use) for industrial and other consumers of electricity.

Apart from these structural reforms, tariff policy requires significant reforms. A package of tariff and structural reforms of the power sector will be announced. According to the proposed tariff policy, it will be mandatory for electricity distribution companies to provide quality power 24 hours a day. According to natural calamity, technical reasons, prior maintenance, except the maintenance works, if the power cut is done then the concerned distribution companies will have to pay a fine and this penalty will go directly to the customers account.

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