Starting this month, Maharashtra consumers will have to spend more on electricity bills, as power supply companies have increased their tariff. The Maharashtra Electricity Regulatory Commission (MERC) has given a go-ahead to the new hiked rates. The approved hike is from 5%-10%.
Four major companies provide electricity in the state – the Maharashtra State Electricity Distribution Company (MSEDCL), Brihanmumbai Electric Supply & Transport Undertaking (BEST), TATA Power and Adani Electricity. The hike has been announced for 2023-24 and 2024-2025.
The MSEDCL has increased the tariff by 2.9% for FY 2023-24 and 5.6% for the financial year 2024-25. Due to this increase, there will be a rise of 6% in residential electricity rates through the end of the financial year 2025. Industrial electricity rates have risen by 1% in FY 2024 and 4% in FY 2025.
A private player like Tata Power has hiked the tariff by 11.9% for FY 2024 and 12.2% for FY 2025. Due to this, the tariff for residential electricity has gone up by 10% in FY 2024 and 21% in FY 2025. For industry, the rates are up by 11% for FY 2024 and 17% for FY 2025.
Another major player in the power sector, Adani Electricity, will charge 2.2% more in FY 2024 and 2.1% in FY 2025. Due to this, the residential electricity rate has increased by 5% in FY 2024 and 2% in FY 2025. There is no change in electricity rates for the industry in FY 2024 and FY 2025. “Adani Electricity’s relentless efforts towards increasing share of renewables and optimizing power purchase costs have ensured that our tariff increase is the least across the state of Maharashtra. This too in an environment of volatile fuel prices leading to proposed tariff hikes across the country. We continue to serve our customers with the most competitive tariffs across a majority of the tariff categories. We remain dedicated to investing in technology and renewable energy to build a brighter and more sustainable energy future for our customers,” said Kandarp Patel, Managing Director, Adani Electricity.
BEST or Brihanmumbai Electricity Supply and Transport has increased the electricity tariff by 5.1% for FY 2024 and 6.3% for FY 2025. Due to this, the rate for residential electricity will increase by 6.19% in FY 2024 and 6.7% in FY 2025.
REACTIONS
Chaitanya Samudra, a photographer, who has a small studio setup at home, is worried about the electricity bill. “I read about the increase in the power tariff, and am worried about my upcoming bills as my entire business setup needs lights of different voltages, computers and other devices to edit and print photos. As per the news, the BEST has also increased its tariff which means for this month’s bill, we will have to pay more. This will be a big adjustment and will impact my business.”
Rachana Dhyalkar, 45, a resident of Virar, a suburban town near Mumbai, said, “The prices of vegetables, pulses and milk have already gone up. Plus, we have to pay more for electricity. Summer has already started, so we use air-conditioners to beat the heat. But due to this hike, we may have to reduce the use at home. How should one manage when salaries are limited?”
Prathamesh Nimkar, who runs a tours and travels business in Borivali, said, “I was not expecting power companies to increase the rates in summer. But if they have done it what can one do?”
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