The Maharashtra Electricity Regulatory Commission on Thursday okayed an average tariff hike of about 24% for Tata Power for FY 2024-25.
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The hike is effective from next month.
“The present tariff hike is necessitated mainly due to fact that there was under-recovery due to stay on tariff as determined in the MTR Order for FY 2023-24. Had there been no stay, tariff for FY 2024-25 would have resulted in tariff decrease of ~13% than approved by the Commission in MTR Order for FY 2024-25,” the power body said in a notification.
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The power firm had asked for a revision in average price tariff by about 12% in bid to recover ₹927 crore arrears.
The proposed hike increased the price for consumers using less than 100 units to ₹4.96 per kWh from the earlier price of ₹1.65, according to a CNBC-TV18 report.
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The company, the report added, had proposed a reduction for 500 and above units’ for consumers, which would work out to ₹7.94 from the present ₹8.35 per kWh.
