The Tamil Nadu government announced that the peak hour power rates for micro, small and medium-sized enterprises (MSMEs) operating in the state will be reduced from 25% to 15%.
The peak hour electricity rates for state-run micro, small and medium-sized enterprises (MSMEs) will now be 15% instead of 25%
On Wednesday, the Tamil Nadu government announced that the peak hour power rates for micro, small and medium-sized enterprises (MSMEs) operating in the state will be reduced from 25% to 15%.
Due to the new electricity rates, which came into effect on September 10, MSMEs had to pay more during peak hours. The state government had received requests from several industry representatives and associations to reduce the peak hour fees.
“Keeping in view the important role of MSMEs in accelerating economic growth and providing employment, the government has accepted their request and reduced the electricity charges during peak hours from the earlier 25 per cent to low stress electricity connections ( Low Tension III-) b) Consumers,” the government said in a release here.
The government claims that this decision will be extremely beneficial for the MSMEs of Tamil Nadu. The need to reduce the tariff to be charged from HT and LT consumers was recently emphasized by several associations representing the MSME industry.
The government in July increased the electricity charges for users of state-run power company Tamil Nadu Generation and Distribution Corporation (TANGEDCO).
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