Lucknow, Nov. 22 -- Uttar Pradesh becomes the first state in the country to see no increase in electricity rates for the sixth consecutive year.
The Power Corporation had proposed a 45 per cent increase in electricity rates this year, arguing that power companies were incurring a loss of approximately Rs 25,000 crore this financial year. But the Uttar Pradesh Electricity Regulatory Commission (UPERC), reasing its order on Saturday claimed that the state's electricity consumers already had a surplus of Rs 33,122 crore on the power companies.
Consumers in the state have generated an additional surplus of approximately Rs 18,592 crore this year. The total surplus has now risen to over Rs 51,000 crore.
Following this decision, the Power Corp...