Active Stocks
Fri Apr 12 2024 15:57:45
  1. Tata Steel share price
  2. 163.50 -1.00%
  1. NTPC share price
  2. 362.00 -0.32%
  1. ITC share price
  2. 430.10 -1.56%
  1. HDFC Bank share price
  2. 1,518.90 -1.10%
  1. State Bank Of India share price
  2. 766.75 -1.57%
Business News/ News / India/  Mumbai's electricity prices are to increase by 5-10% from today. Details here
BackBack

Mumbai's electricity prices are to increase by 5-10% from today. Details here

Tata Power, which offers the cheapest tariff for 0-100 unit users, will raise the prices by 10% in 2023-24 and 21% in 2024-25

Mumbai's electricity price increased (REUTERS)Premium
Mumbai's electricity price increased (REUTERS)

The prices of electricity will increase by 5-10% for Mumbai residents from today (1 April), according to Maharashtra Electricity Regulatory Commission (MERC).

Already paying the highest tariffs, the MSEDCL users can expect a 6% hike in both 2023-24 and 2024-25. Those using BEST, which offers among the cheapest rates, will see tariffs rise by 6.19% in 2023-24 and 6.7% in 2024-25.

For Adani Electricity residential users, the hike will be 5% and 2%, respectively.

Tata Power, which offers the cheapest tariff for 0-100 unit users, will raise the prices by 10% in 2023-24 and 21% in 2024-25.

Besides, the state electricity regulator MERC has raitionalised the tariff for electric vehicle charging to 7.25 per unit for power utilities.

Separately, Himachal Pradesh has also hiked electricity tariffs by 22 paise per unit for all categories, except domestic consumers in the 1 to 125 units slabs.

This has put the average cost per unit at 5.82 and the average tariff hike is 4%.

The commission has approved a 3% rebate on energy charges for consumers availing of the prepaid metering facility and continuing 15% rebate is being provided to new industries and industries doing substantial expansion.

Further, the Himachal government has announced to give subsidies to domestic and agriculture consumers at last year's level.

The subsidised tariff would be 30 paise per unit for agriculturists while domestic consumers in the 1–125 unit bracket would pay nothing. Consumers in the 126–300 unit slab would pay a subsidised rate of 4.17 per unit, and above 300, the subsidised rates would be 5.22.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 01 Apr 2023, 08:27 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App