Mumbai: Shares of power companies moved higher, surging as much as 4 percent today, after the Delhi Electricity Regulatory Commission (DERC) approved tariff hike for in Delhi region FY15. CESC climbed 3.85 percent, while Adani Power gained 3.28 percent and Tata Power rose by 3.53 percent on the BSE.
Among others, NTPC was up 2.63 percent, Reliance Power (2.39 percent) and Torrent Power (1.33 percent).
Led by the gains in these stocks, the BSE's power index ended 2.36 percent higher at 2,257.93. Power tariff in Delhi was hiked by up to 2.5 percent.
Delhi Electricity Regulatory Commission said that in effect the tariff will come down as power purchase adjustment cost surcharge has been discontinued.
Power tariff for all commercial users like industries and Delhi Metro have been hiked by up to 11 percent.
The commission has approved an average tariff increase of 8.32 percent for all the 3 discoms -- BSES Yamuna, BSES Rajdhani and Tata Power Delhi Distribution Ltd (BYPL, BRPL, TPDDL) and 9.52 percent for NDMC.
