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APTEL stayed the MERC's MTR tariff schedule for Tata Power for year 23-24

14 Jul 2023
  • Tata Power’s Mumbai 7.5 lakh consumers get substantial tariff reduction after APTEL’s stay on MERC tariff schedule
  • Tata Power's interim application to set aside the tariff schedule has been accepted by the APTEL
  • In the interim period, Tata Power will apply MYT Order 2020 tariff which is 25-35% lower than suggested tariff in last order

The Honorable Appellate Tribunal for Electricity (APTEL) today passed an order granting interim relief sought by Tata Power by staying the Maharashtra State Electricity Regulatory Commission's (MERC) revised tariff schedule on MTR framework approved by the Hon’ble Maharashtra Electricity Regulatory Commission (MERC).

The consumer of Tata Power will benefit from this order. It also vindicates the stand of Tata Power that it can offer cheaper electricity to Mumbaikars. Customers of Tata Power in Mumbai will get the benefit of this order as the Company will be able to pass on the relief to its 7.5 lakh consumers.

Tata Power, in its pursuit of fairness and affordability for its customers, approached the Hon’ble APTEL seeking an interim stay on the recent tariff order, dated March 30, 2023, issued by the Hon’ble MERC. The said tariff order would have increased the price paid by consumers despite Tata Power maintaining a competitive average cost of supply.

Mr Sanjay Banga President, Transmission and Distribution, Tata Power, said, “This interim stay is a testament to Tata Power's dedication to delivering affordable electricity to the people of Mumbai. It validates our commitment to providing sustainable power at cheaper rates, and our customers will directly reap the benefits of this decision. We will ensure that the relief granted by the Hon’ble APTEL is passed on to our 7.5 lakh consumers, further reinforcing our steadfast commitment to fairness and affordability in all our operations.”

Mr Nilesh Kane, Chief of Mumbai Distribution, Tata Power, said, “With a commitment to excellence, Tata Power has long been recognized for its dedication to providing power at highly competitive rates in Mumbai. Serving over 7.5 lakh customers in the city, the Company's customer-centric approach remains the cornerstone of its operations. Hon’ble APTEL’s Order represents a pivotal opportunity to strengthen this commitment, ensuring the delivery of quality, affordable, sustainable, and reliable power supply that benefits both customers and the wider community.”

In the interim period, the tariff proposed by the Company to the Hon’ble MERC on March 31, 2020, becomes applicable once again. This tariff is 25-35% lower than the existing one and will be for the benefit of the consumers.

About Tata Power:

Tata Power (NSE: TATAPOWER; BSE:500400) is one of India’s largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed/managed capacity of 14,294 MW. The Company has a presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, and trading. The Company developed the country’s first Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With 5,434 MW of clean energy generation from solar, wind, hydro, and waste heat recovery accounting for 38% of the overall portfolio, the company is a leader in clean energy generation. It has successful public-private partnerships in generation, transmission & distribution in India viz: Powerlinks Transmission Ltd. with Power Grid Corporation of

India Ltd. for evacuation of Power from the Tala hydro plant in Bhutan to Delhi, Maithon Power Ltd. with Damodar Valley Corporation for a 1,050 MW Mega Power Project at Jharkhand.

Tata Power is currently serving more than 12.9 million consumers via its Discoms, under a public-private partnership model viz Tata Power Delhi Distribution Ltd. with the Government of Delhi in North Delhi, TP Northern Odisha Distribution Limited, TP Central Odisha Distribution Limited, TP Western Odisha Distribution Limited, and TP Southern Odisha Distribution Limited with Government of Odisha.

With a focus on sustainable and clean energy development, Tata Power is steering the transformation as an integrated solutions provider by looking at new business growth in distributed generation through rooftop solar and microgrids, storage solutions, EV charging infrastructure, ESCO, home automation & smart meters et al. In its 108 years track record of technology advancements, project execution excellence, world-class safety processes, customer care and green initiatives, Tata Power is well poised for multi-fold growth and is committed to lighting up lives for generations to come. For more information visit us at: www.tatapower.com

 


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