DEE Development Engineers: Subsidiary's Power Tariff Increased to ₹5.224/kWh
DEE Development Engineers' subsidiary, Malwa Power Pvt. Ltd., has received a new tariff of ₹5.224/kWh for its 6 MW biomass plant. This tariff, determined by PSERC for an extended 10-year term, is an increase from the previous ₹3.500/kWh. The company expects to recover an additional ₹5.80 Crores.
The tariff increase and estimated additional revenue recovery will positively impact the subsidiary's financial performance, but the overall impact on the parent company is considered medium as it pertains to a specific subsidiary's project.
The tariff determination by PSERC has resulted in a higher tariff for the company's subsidiary, leading to an estimated additional revenue recovery, which is a positive development.
DEE Development Engineers Limited has announced that the Punjab State Electricity Regulatory Commission (PSERC) has determined the tariff for its wholly owned subsidiary, M/s Malwa Power Pvt. Ltd. (MPPL). The 6 MW biomass-based power plant, located in Mukatsar, Punjab, will now operate under a new tariff for its extended term of 10 years.
The PSERC's Final Order, dated March 27, 2026, sets the tariff at ₹5.224 per kWh for FY 2025-26, comprising a Fixed Tariff of ₹0.970/kWh and a Variable Tariff of ₹4.254/kWh, with a 5% annual escalation. This represents a significant enhancement from the previous interim tariff of ₹3.500 per kWh, which was determined by the Hon’ble APTEL. The company estimates an additional revenue recovery of approximately ₹5.80 Crores to date due to this tariff differential.
The petition was filed for the tariff determination for the extended period following the expiry of the initial 20-year Power Purchase Agreement (PPA) on April 26, 2025. The PSERC's order was passed pursuant to directions from the Hon’ble Appellate Tribunal for Electricity (APTEL). DEE Development Engineers Limited is currently evaluating the order and will take appropriate steps, including filing an appeal if necessary, to protect its commercial interests and ensure a fair tariff for the project's extended term.
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