Smart meters being installed with complete transparency, scientific pricing structure: BESCOM
Bengaluru, Mar 24 (PTI): The installation of smart meters in new electrical setups within the BESCOM jurisdiction is being carried out with complete transparency, with a scientific pricing structure in place, BESCOM Managing Director N Shivashankara said on Monday.
In a press conference held at the BESCOM office, Shivashankara further said existing customers too will have the option to install smart meters.
The press meet was also attended by Energy Department’s Additional Chief Secretary Gaurav Gupta and Karnataka Power Corporation Limited (KPCL) Managing Director Pankaj Kumar Pandey.
On March 6, the Karnataka Electricity Regulatory Commission released guidelines for installing smart meters. As per these guidelines, installing and replacing smart meters will take place in phases.
Shivashankara said, “The Energy Department’s smart meter scheme is a significant step towards a digital approach for electricity bill payments and real-time electricity usage data. These smart meters are not just a solution to meter and billing issues but also a tool for customers to manage their electricity usage effectively.”
According to him, the system enables TOD (Time of Day) rates, remote reading, auto connection, and disconnection. In case of a power outage, the electricity distribution company will receive immediate updates, streamlining and speeding up the power restoration process.
Most states have implemented the Revamped Distribution Sector Scheme (RDSS) system, said a release issued by the Energy Department.
Under RDSS, the central government would provide 60 percent of funding for developing electrical infrastructure if accepted. Additionally, the union government would contribute 15 percent of the total cost, or Rs 900, to replace smart meters, said the press release.
However, the scheme stipulated that state governments could only benefit if they cleared any outstanding subsidies and dues owed to the respective electricity supply companies. Furthermore, it was mandatory for all customers to install smart meters.
Since the Karnataka government did not agree to these conditions at that time, it did not accept the central RDSS scheme, said Shivashankara.
“In these states, electricity supply companies purchase and install smart meters for customers, subsequently recovering the cost of the meters and their technical maintenance by incorporating it into the electricity tariff,” he added.
He also explained how it worked in other states.
“For instance, with the central government’s subsidy, the monthly cost for each smart meter over 10 years is Rs120.34 in Maharashtra, Rs117.81 in West Bengal, Rs148.88 in Sikkim, Rs 130.30 in Manipur, and Rs115.84 in Madhya Pradesh. This cost is reflected in the electricity bill and collected from customers. Additionally, in these states, smart meters are being installed simultaneously for all customer installations (bulk replacement),” said Shivashankara.
The process of installing smart meters began in urban areas on February 15, and in the coming days, the installation process will begin in rural areas, he added.
“Currently, BESCOM has a stock of 30,600 smart meters,” said the BESCOM MD.
At the press meet, Energy Department’s ACS Gupta and KPCL MD Pandey also provided information about Karnataka's power situation and the measures taken by the Energy Department to ensure a stable power supply.
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Rupee rises 26 paise to 89.92 against US dollar in early trade
Mumbai (PTI): The rupee rose 26 paise to 89.92 against US dollar in early trade on Wednesday aided by a weaker greenback and a sharp drop in global crude oil prices.
At the interbank foreign exchange, the rupee opened at 90.20 against the US dollar but kept rising to trade at 89.92, up 26 paise from its previous close.
The rupee snapped its four-day losing streak to appreciate 12 paise to settle at 90.18 against the American currency on Tuesday.
"The rupee opened firmer even as (US President) Donald Trump continues to threaten India with more tariffs. Exporters are expected to continue selling at high of the day on cash/spot basis while importers will buy the dips and more if the fall is close to 90 for the dollar," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.52.
Brent crude, the global oil benchmark, was trading 1.05 per cent lower at USD 60.06 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex declined 169.64 points to 84,909.30 in early trade, while Nifty was down 42.35 points to 26,128.90.
Foreign institutional investors offloaded equities worth Rs 107.63 crore on Tuesday, according to exchange data.
