India: Punjab State Electricity Commission Hikes Tariff

As per reports, the Punjab State Electricity Regulatory Commission has today revised the tariff by 2.14 % and also increased fixed charges for all the category of consumers by INR 10 per KW with effect from 1st June'19.

As per the order, the domestic tariff has been increased by 8 paisa per unit and fixed charges have been increased by INR 10 per KW.

The tariff for industrial supply has been increased by 8 paisa per unit and fixed charges by INR 5 KVA. The average cost of supply has been worked out INR 6.629 per unit.

How will it impact steel prices ? As per SteelMint, this will add to the cost of production of EAF and the steel mills are likely to pass on this increased cost to their end users. This might lift steel prices.

Currently, steel prices in Punjab region are hovering as follows Ingot - INR 33,700/MT and Billet at INR 34,100/MT (basic prices, GST extra)