UPERC asks solar power developers to lower tariffs

The Uttar Pradesh Electricity Regulatory Commission has issued a letter to 15 solar power project developers asking them to voluntarily agree to lower solar tariffs to Rs 7.02 per kWh, which is the price that was proposed by the lowest bidder during the auction. This is a result of the steep fall in solar tariffs in the past two years. Uttar Pradesh’s nodal agency for renewable energy, the New Energy Development Agency had declared the results of the auction in 2015, after which contracts were signed with 15 developers at tariffs ranging from Rs 7.02 per kWh to Rs 8.60 per kWh.