Adani Electricity Mumbai proposes marginal hike in residential power tariffs in next 2 fiscals

In the case of industrial and commercial consumers, the company has proposed to reduce tariffs by 11-18% in FY24 and FY25

Representative Image. Credit: AFP Photo

Adani Electricity Mumbai (AEML) on Saturday proposed an increase in power tariffs for residential consumers by 1 per cent for the next two financial years on account of a rise in renewable sources on the generation side.

In the case of industrial and commercial consumers, the company has proposed to reduce tariffs by 11-18 per cent in FY24 and FY25, as per advertisements in local dailies on Saturday.

“Residential consumers to have a cumulative marginal 1 per cent increase in tariff over both FY 23-24 and FY 24-25 as compared to tariffs incurred currently,” the company said.

At a time when electric vehicle adoption is growing, the company has proposed power tariffs to be 28 per cent cheaper than the present ones.