Power utilities' shares gain on Delhi tariff increase
Power utilities Reliance Infrastructure rose 1.7 per cent, while Tata Power added 2.2 per cent. Delhi Electricity Regulatory Commission (DERC) proposed an increase in power tariffs in New Delhi effective July 1.
Tariff for household consumers would go up by 24 per cent and prices for commercial consumers will be increased by 19.5 per cent, the DERC mandated.
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State-run power sector lenders such as Power Finance Corp and Rural Electrification Corp also gained on expectations utilities would be better placed to pay back their loan commitments.