Uniform Renewable Energy Tariff (URET) ( UPSC Prelims)

News Context

Cancelled by the Ministry of Power.
 • Intended to offer a consistent tariff to consumers by averaging the competitive bid tariffs of similar renewable energy projects within central pools.
 • Tackle potential effects on procurers due to decreasing bid-discovered prices.
 • Reasons for cancellation:
    o Procurers were hesitant to sign Power Sale Agreements because of the uncertainty of tariffs over the three-year fixed period, leading to stalled projects.
    o Promote transparent price discovery between producers and consumers and accelerate the deployment of renewable energy nationwide.