MUMBAI: Maharashtra Chief Minister Devendra Fadnavis announced a significant reduction in electricity tariffs across the state.
According to a statement released by the Maharashtra Chief Minister's Office, electricity rates will be reduced by 10 per cent in the first year and there will be a 26 per cent reduction in phases over the next five years.
The proportion of people using less than 100 units of electricity in the state is 70 per cent. Work on Mukhyamantri Saur Krishi Vahini Yojana 2.0 has started on a war footing, CMO added.
Hailing the decision, CM Fadnavis said in a post on X, "Good news on electricity tariffs! For the first time in the State's history, electricity tariffs will be reduced, starting with a 10 per cent cut in the first year, and a total 26 per cent reduction in phases over the next 5 years. 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."
Chief Minister mentioned that nearly 70 per cent of consumers in the State use less than 100 units and they will benefit the most from the 10 per cent tariff cut.
Meanwhile, Maharashtra CM Fadnavis also mentioned the development of Vadhavan Port.
"We are building Vadhavan Port, which will be three times bigger than Jawaharlal Nehru Port Authority, the largest port of our country that handles 60 per cent of our container traffic. The Prime Minister laid the foundation of Vadhavan Port. Due to this, Maharashtra is emerging as a magnet for industry and logistics in the country," he said.