The Maharashtra government on Monday announced an average of 8 per cent electricity tariff cut for the next five years to help businesses and people tide over the COVID-19 crisis.
While the industry has been given the highest benefits, farmers will have to contend with a 1 per cent reduction in electricity costs, according to an official statement. It also added that all the revisions are for a period of five years.
For the consumers served by private sector discoms Adani Energy and Tata Power in the financial capital, industrial units will have their power rates slashed by 18-20 per cent, commercial establishments by 19-20 per cent and residential ones by 10-11 per cent, it said. Maharashtra is the state with the largest number of coronavirus cases, and the move comes amid a spate of measures being taken by governments and policymakers to push economic activity amid the pandemic.
This move is taken by the Maharashtra Electricity Regulatory Commission (MERC) and is said to be first such tariff cut in 10-15 years, where people will be able to see an average of 7-8 per cent reduction in the bills.
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