The Maharashtra Electricity Regulatory Commission (MERC) has announced new electricity tariffs for various power distribution companies in the state, effective from April 1. According to the order, MSEDCL, with the highest electricity tariff in the state, will see a 4-13% drop in rates for residential consumers, while BEST will experience a 3% hike for high-end users and no change for low-end residential consumers.
Adani Electricity consumers will witness a 6% hike only for the 101-300 unit monthly consumption category, while Tata Power customers will see a 6-11% drop in tariff across all residential categories. A significant announcement is the introduction of Time-of-Day tariff, which offers a 10% discount or a 50 paise concession in tariff for residential consumers who consume electricity during solar hours (9am to 5pm).
To encourage electric vehicle (EV) charging, MERC has done away with demand/fixed charges on EV charger meters, making it more feasible for housing societies to install EV chargers. The green tariff premium has also been reduced from 66 paise per unit to 25 paise per unit to encourage more consumers to opt for the green tariff.
The average billing rate for the existing industry tariff has been reduced to Rs 9.20 per unit for MSEDCL consumers, ensuring that industries do not migrate to other states. For MSEDCL residential consumers, the tariff is expected to drop every financial year till 2028-29, when the decline will be up to 16% compared to the present-day tariff. The tariffs will then rise by around 10% in 2029-30, but it will still be less than the present-day tariff.
MSEDCL Managing Director Lokesh Chandra expressed optimism about the drop in residential tariffs, saying that the proposed procurement of energy through solar power will result in a reduction of the overall cost of power procurement. He also mentioned that the tariffs will fall in the next few years, with a potential 16% drop by 2028-29.