There is good news for you if you are bothered about your monthly electricity bill growing. The government has now made such a move, which will significantly lower your electricity price. You don’t even need to take any tension. The ‘time of day’ (TOD) rule will be put into effect by the government to set electricity pricing. If this occurs, power users all around the nation will be able to manage their electricity consumption during solar hours (daytime) and save up to 20% on their monthly bills.
There will be a new rule.
Describe how the new TOD rule would affect electricity rates, which will vary depending on the time of day. Customers will be able to avoid high electricity consumption tasks like cooking and laundry during peak hours thanks to the adoption of this technology. By washing their clothes or cooking during regular business hours, consumers will be able to lower their electricity bills under the new scheme. Starting on April 1, 2024, the commercial and industrial consumers with demand of 10 kW and higher will be subject to the ToD tax scheme. Beginning on April 1, 2025, this regulation will apply to all consumers besides farmers.
The Ministry of Power provided details.
According to a statement released by the Ministry of Power on Friday, the Government of India amended the power (Consumer Rights) Rules, 2020 to make two amendments to the current power tariff structure. These modifications deal with the implementation of a Time of Day (TOD) tariff structure and the rationalisation of smart metering-related requirements.
Electricity Price Volatility over Time.
As a result, the user will pay a varied price for electricity at different times of the day rather. Than being charged the same price for electricity throughout the day. The statement claims that the rate of electricity in solar hours (eight hours set by the State Electricity Regulatory Commission) will be 10 to 20% less under the new tariff scheme. Union Minister, RK Singh, the Union Minister for Power and New and Renewable Energy. Thinks that both consumers and energy providers will gain from the TOD system.
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