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Differential Time-Based Electricity Tariffs
July 7 , 2023
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- The government amended the Electricity (Rights of Consumers) Rules 2020 to make two changes.
- It will introduce Time-of-Day (ToD) and rationalization of smart meters.
- The day shall be at least 20 per cent lower than the normal tariff.
- On the other hand, tariffs during peak hours will be at least 20 per cent higher than the normal tariff for commercial and industrial consumers, and at least 10 per higher for other consumers.
- During the day time, the tariff could fall by as much as 20%, benefitting consumers.
- This will potentially help power companies to balance peak power demand.
- It also giving the ability for consumers to regulate and manage their consumption and control their bills.
- Around 20 countries, including at least 17 European nations and the United States, have time-based power tariff structures in one form or another.
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