In a big relief to the common man in Punjab, Chief Minister Charanjit Singh Channi on Monday announced his cabinet decision to reduce electricity rates by Rs 3.
Making the announcement, Chief Minister Charanjit Singh Channi said, "the electricity that we have bought today is for Rs 2.65. When we did a survey, people told us that they do not want free but cheap electricity."
"Our rate now is Rs 1.19 up to 100 watts. From 100 to 300 units, the new power rates will be Rs 4 per unit, earlier, it used to be Rs 7. And above 300 units, people will get electricity at the rate of Rs 5 per unit."
Therefore, Rs 3 has been reduced in every slab of residential connection. The new rates will be applicable from today.
With new rates applicable from today, Punjab becomes the only state in India to offer the cheapest electricity for residential connections.
However, this move will pile up an additional burden of Rs 3,316 crore on the government.