Maharashtra electricity tariffs: Electricity prices shoot up in Mumbai as key players increase tariffs

- Reported By Saurabh Pandey 

Power Tariff: People living in Mumbai will have to pay 5 to 10 per cent more for electricity starting today, April 1, as the Maharashtra Electricity Regulatory Commission (MERC) has implemented new rates. This move comes after the MERC agreed to the distribution companies' proposal of a price hike and announced the out-of-turn hike.

The electricity tariff rate – the rate at which electricity is sold to consumers, has been hiked for FY 2023-24 and FY 2024-25.

According to a Zee Business report, four electricity distribution companies – Tata Power, Adani Electricity, Maharashtra State Electricity Distribution Co. Ltd (MSEDCL), and Brihanmumbai Electricity Supply (BEST) in Maharashtra will increase the charges. 

Also Read: Taxpayers Alert: These 10 income tax changes will be applicable from April 1 

How much more in electricity charges do Mumbai residents have to pay now?

MSEDCL

MSEDCL has increased the tariff rate by 2.9 per cent for FY 2023-24 and 5.6 per cent for the financial year 2024-25. Due to this increase, there has been a rise of 6 per cent in residential electricity rates through the end of the financial year 2025. Industrial electricity rates increased by 1 per cent in FY 2024 and 4 per cent in FY 2025.

Tata Power 

Tata Power has hiked the tariff rate by 11.9 per cent for FY2024 and 12.2 per cent for FY2025. Due to this increase in the tariff rate, the electricity price for residential electricity increased by 10 per cent in FY2024 and 21 per cent in FY2025. For industry, the rates increased by 11 per cent in FY2024 and 17 per cent in FY2025.

Adani Electricity 

Adani Electricity will charge 2.2 per cent more tariffs for FY2024 and 2.1 per cent for FY2025. Due to this, the residential electricity rate has increased by 5 per cent in FY2024 and 2 per cent in FY2025. There is no change in electricity rates for the industry in FY2024 and FY2025.

BEST

BEST or Brihanmumbai Electricity Supply and Transport increased the electricity tariff by 5.1 per cent in FY2024 and 6.3 per cent in FY2025. Due to this, the rate for residential electricity will increase by 6.19 per cent in FY2024 and 6.7 per cent in FY2025.

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