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Interest at 3.5% to be paid to TANGEDCO customers who pay in advance
Posted on: 21/Feb/2019 4:21:38 PM
The Electricity regulation Authority has ordered that for the customers who pay their electricity bills in advance, an interest at the rate of 3.5 % must be paid from the next financial year.
Normally, TANGEDCO allows 20 days time period for the customers with power connection (residences and others) for payment of electricity bill from the date of registration of the power consumption data.
Some customers – those who have to travel to other places or those customers who reside in other places – pay their electricity bills in advance. In such cases, as per the interest rates fixed by the Electricity Regulatory Authority, TANGEDCO pays interest to these customers.
Accordingly, the Electricity Regulatory Authority has now ordered that from the financial year 2019-20, an interest rate of 3.5 % should be paid for the above payments. The current interest is also 3.5 %.
