PSERC issues draft order to cap LPS and reduce RPO

The Punjab State Electricity Regulatory Commission has provisionally capped the rate of LPS to 6 per cent per annum if the due date falls between March 24, 2020 and June 30, 2020. The LPS will be paid by Punjab State Power Corporation Limited to the generating companies and Punjab State Transmission Corporation Limited. The commission has also proposed to reduce the renewable purchase obligation for 2019-20 and 2020-21 by 1.5 per cent and 2 per cent respectively. The commission has sought comments on the proposal by April 30, 2020. Further, the due date of electricity bills of all domestic and commercial consumers has been extended without any levy of LPS.

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