Punjab slashes electricity rates by Rs 3 per unit ahead of 2022 assembly elections

With polls round the corner, Punjab Chief Minister Charanjit Singh Channi on Monday announced that the cabinet has decided to reduce electricity rates by Rs 3. The new rates will be applicable from today itself. This move will benefit 95 percent of residents in Punjab, the Chief Minister claimed in a press conference today.

The moves comes a day after the government decided to terminate the power purchase agreement with GVK Goindwal Sahib (2×270 MW).

The new rats will significantly lower the burden on consumers. Till yesterday, the rate was 4.19 rupees per unit till 100 units; with the changes announced today, it will be just 1.19 rupees per unit.

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.”