URET Explained: Uniform Renewable Energy Tariff Proposal
Why in the news
The Centre prepared to consult on URETs to speed up renewable power purchase agreements.
Key facts
- Electricity is a concurrent subject, so states resist.
- One pooled tariff replaces project or location-specific rates.
- An agency such as Grid Corporation of India Ltd computes it from competitive bids.
Benefits
- Pricing clarity helps generators, discoms and investors plan.
- Ends discoms’ wait-and-watch habit of expecting lower tariffs, reducing PPA delays.
Exam angle
- Terms: URET, PPA, discom.
- Proposed: October 2023.