Bhubaneswar: GRIDCO on Wednesday assured of no increase in retail power tariff for the consumers in Odisha for 2024-25 financial year.
The GRIDCO made the assurance during public hearing on its Annual Revenue Requirement (ARR) and Business Plan (BSP) application for the fiscal year before Odisha Electricity Regulatory Commission (OERC).
In its presentation, GRIDCO outlined the strategy to meet the rising power demands of the state. Projecting a requirement of 37,457 Million Units (MU), it ensured availability of 39,652 MU from long-term power contracts, with a contingency reserve of 2,196 MU.
As part of its planning, GRIDCO outlined arrangements from captive power plants, short-term and medium-term contracts to cater to any exigencies in power supply. It also highlighted its pursuit of renewable energy generation to promote sustainability within the state.
GRIDCO expressed confidence to manage projected power costs for FY 2024-25 without necessitating an increase in retail tariffs. It said any incremental costs can be absorbed through the amortisation of regulatory surplus available with DISCOMs and augmented revenue due to increased demand.
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