Electricity prices up by 5-10% in Mumbai and suburbs from today - The Economic Times

Residents of Mumbai and its suburbs will have to pay 5 to 10 per cent more for electricity starting April 1, as the Maharashtra Electricity Regulatory Commission (MERC) has approved a 10 percent increase in electricity tariffs for domestic consumers from 1 April and an additional 17 percent increase from 1st April 2024.

This move comes after the MERC agreed to the distribution companies' proposal of a price hike and announced the out-of-turn hike.

There are 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.

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 has hiked the tariff rate by 11.9 per cent for FY2024 and 12.2 percent 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 percent in FY2025. For industry, the rates increased by 11 per cent in FY2024 and 17 per cent in FY2025.
"While rationalizating the tariff, in some categories the tariff may go up for the consumers as per the recent MERC order.Based on our assessment, if customers tariff gets impacted, it will get suitably adjusted in fuel adjustment charges in the future months due to optimized power purchase costs, etc," said Tata Power Spokesperson.

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

"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," said Kandarp Patel, Managing Director, Adani Electricity.

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

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Electricity prices up by 5-10% in Mumbai and suburbs from today - The Economic Times
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