Household consumers in the state received an unpleasant surprise on the first day of the new financial year as electricity rates were increased. The increased rates will affect every household consumer.
The Maharashtra State Electricity Regulatory Commission has given the green light for a 10 per cent hike in electricity rates for residential customers starting from April 1st, the beginning of the new financial year. Furthermore, there will be an additional 17 per cent increase from April 1st, 2024. This is the second rise to affect the general public from April 1st, following an 18 per cent increase in tolls on the Pune-Mumbai Expressway.
Starting from 1st April, new tariffs have been introduced by the Maharashtra Electricity Regulatory Commission for the four main electricity distribution companies, including the Maharashtra State Electricity Distribution Company Limited (MSEDCL), which is controlled by the state government. This increase in tariffs is intended to provide some assistance to MSEDCL, which is experiencing financial difficulties as a result of unpaid electricity bills.