Historic Move: Maharashtra To Cut Power Tariffs By 26% Over 5 Years

Mumbai: For the first time in the history of Maharashtra, electricity rates are set to decrease. According to the Chief Minister's Office (CMO), tariffs will be reduced by 10% in the first year, with a phased 26% reduction over the next five years.

This move has been approved by the Maharashtra Electricity Regulatory Commission (MERC) after a proposal from the state electricity company (MSEDCL).

Chief Minister Devendra Fadnavis hailed the decision on X, saying, “Good news on electricity tariffs! For the first time in the state's history, electricity tariffs will be reduced. Thanks to the Maharashtra Electricity Regulatory Commission (MERC) for approving MSEDCL's proposal to reduce tariffs, a move never attempted before. Previously, petitions used to be filed for tariff hikes of around 10%, but this time, a petition was filed for a reduction – benefitting domestic, industrial, and commercial consumers alike.”

The CM mentioned that nearly 70% of consumers in the state use less than 100 units and they will benefit the most from the 10% tariff cut.

Fadnavis also mentioned that work is progressing rapidly on the Mukhyamantri Saur Krushi Vahini Yojana 2.0 to ensure reliable daytime power for farmers. “With a growing focus on renewable energy in our power purchase agreements, future savings in procurement costs will help sustain affordable tariffs. It gives immense satisfaction to share this people-centric decision with the citizens of Maharashtra,” he added.