The Central Electricity Regulatory Commission (CERC) has reduced the rate at which power distribution companies (discoms) will have to pay penalties against delays in payments scheduled between March 24 and June 30. The regulator, in an order issued on Friday, has reduced the late payment surcharge for the aforementioned period from the usual rate of 1.5% to 1%.
This will provide some relief to the stressed discoms as they are finding it difficult to continue meter reading exercises and collect payments from consumers amid the countrywide lockdown to contain the outbreak of the coronavirus.
