Torrent Power has slashed Fuel and Power Purchase Price Adjustment (FPPPA) charges for the second quarter of FY17, for its power consumers in the cities of Ahmedabad, Gandhinagar and Surat.
The cut in the FPPPA will be Rs 0.80 per unit for the September quarter as against Rs 1.98 per unit in the corresponding quarter of the previous year, witnessing a reduction of Rs 1.18 per unit. This will result in a reduction of about 17 per cent in power bills.
This announcement follows the reduction in FPPPA to Rs 1.30 per unit, already implemented by Torrent in first quarter of the current fiscal year. The FPPPA charge varies quarter-to-quarter, in accordance with a formula approved by the power regulator, Gujarat Electricity Regulatory Commission (GERC), on account of variations in actual cost of power procurement and volume.
Torrent Power is an India-based company engaged in the electricity generation, transmission and distribution. Its current operations are in the states of Gujarat and Maharashtra and Uttar Pradesh.
