Reliance Power to Charge Users More Retrospectively From 2004

Reliance Power to Charge Users More Retrospectively From 2004Gambling over Reliance Infrastructure for drawing electricity? If yes, then get set to shell out more as Reliance Power has bagged government’s approval to charge users more retrospectively as of 2004.

According to an order dated July 29, the Maharashtra Electricity Regulatory Authority (MERC) has licensed Reliance Infra to gather dues hoarded since 2004. The dues will reportedly bank a massive Rs 2, 316 crore for the Company.

However, even those who have moved from Anil Ambani-owned Reliance Infra (RInfra) to Tata Power in an endeavor to save money will not find themselves off the hook.

This amount embraced the Rs 1, 360 crore the Company had to forgo when the state government directed MERC last year to stay Reliance Infra’s plan to spike tariff.

Reliance Infra would accumulate the Rs 1, 360 crore and Rs 556 crore it earned as operational expenditures from its consumers.

Reliance Infra has 27 lakh users, nearly 5.5 lakh of who fall in the top-end group, using over 300 units a month.

While RInfra charges its customers Rs 9-10 per unit, Tata Power, which largely supplies electricity to commercial and industrial establishments, charges high-end residential customers nearly Rs 4 less than Reliance Infra.

The decision is a cracker of a blow for landlords who rented out apartments in the period since 2004, as it would be tough for them to collect monies from old renters who may have left by now.