Mumbai: Electricity may cost dearer by 1 per cent to user

Adani Electricity proposes to reduce industrial, commercial and EV charging rates extensively, hike planned for suburban consumer

Suburban power supplier Adani Electricity has proposed to increase residential tariff only by an average one per cent while it wants to decrease industrial and commercial tariff by 11 to 18 per cent. The electric vehicle (EV) charging points will benefit even more, as the company has asked the state regulator to reduce their tariff by 28 to 38 per cent.

The proposal has been made for the financial years 2023-24 and 2024-25 under the truing up process of the multi-year tariff regulations. As directed by the regulator, the company issued a public notice on Saturday. The Maharashtra Electricity Regulatory Commission will hear the suggestions and objections from consumer representatives and other stakeholders on February 16, through video conferencing before revising the tariff rates across many categories of consumers.

The company said that industrial and commercial consumers will benefit extensively from significantly competitive proposed tariffs in FY 23-24 and FY 24-25, with cumulative reductions of 11 per cent to 18 per cent as compared to tariffs incurred currently. However, domestic consumers will have to pay more and buy categories depending on their monthly consumption, and the usage slabs, some even pay less.

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“Residential consumers will have a cumulative marginal one per cent increase in tariff as compared to the current bills,” it said. It added that the EV charging will be at least 28 per cent cheaper in comparison to rates today. This has been done to boost the EV market.

It said the competitive proposal has been suggested despite the average retail inflation being seen at 4.7 per cent for January-March 2023. “According to the latest data released by the ministry of statistics, the retail inflation during the month of December was at 5.72 per cent,” it said in a release.

The company said it has been getting 30 per cent of its supply from hybrid solar and wind sources at a fixed tariff of Rs 3.24 per unit. It is in the process to procure an additional 1,500 MW power, of which a minimum 51 per cent will come from renewable energy sources. “Adani Electricity will have the proud distinction of being one of the few utilities across the globe to source the majority of its electricity demand from renewable energy sources [60 per cent by 2027],” the company stated.

11-18
Per cent decrease proposed in commercial, industrial tariff

01
Per cent increase proposed in residential tariff in suburbs

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