In a latest development, the centre has announced new electricity rules that will slash power tariffs of up to 20 per cent during the day and increase of up to 20 per cent during the peak night, according to the media reports.The new electricity rules will help in reducing demand in the grid during peak times. Also, it will help India to achieve its target reaching 65 per cent of its energy capacity from non-fossil fuels by 2030.New electricity tariffs rules to begin in April 2024According to the officials, the new tariffs will come into effect in April 2024 for both, commercial and industrial users. Then, a year later it will be available for other consumers except those in the agricultural sector.In an official statement, Power Minister RK Singh said, “Since solar power is cheaper, the tariff during the solar hours will be less, so the consumer benefits.”He added. “During non-solar hours, thermal and hydropower, as well as gas-based capacity, is used – their costs are higher than that of solar power – this will be reflected in time-of-day tariff.”Day vs Night: What will happen to the electricity billsIt is expected that the latest development will benefit consumers who can shift their energy consumption to the daytime. Taking an example, if in a household, all types of machinery such as washing machines and dishwashers during the day time, they could save money on their electricity bills. However, if the usage of electronics will be more at night, the consumer might suffer to pay a hefty amount on their electricity bills. It is indeed a step towards making Indias electricity grim=d more efficient and sustainable. The latest rules come at a time when power demand grew in 33 years amid rising temperatures and a surge in economic activity, resulting countrys worst electricity shortage in FY23.
