According to reports, the Maharashtra Electricity Regulatory Commission (MERC), the electricity regulatory commission in Maharashtra, on Friday, 28 June 2013, approved 25% increase in average tariff for Tata Power’s residential consumers for the year ending 31 March 2014 (FY 2014), which will be effective from 1 July 2013. MERC has approved the multi-year tariff plan till 2016 of Tata Power and allowed an increase of 25% for FY 2014, 15% for FY 2015 and 11% for FY 2016 for residential consumers.
For commercial and industrial consumers, the tariff hike would range from 22% to 39% in the current financial year, 9% to 13% in FY 2015, and 4% to 8% in FY 2016.
Tata Power Company reported consolidated net profit of Rs 181.36 crore in Q4 March 2013, as against net loss of Rs 628.75 crore in Q4 March 2012. Net sales rose 25.5% to Rs 8997.31 crore in Q4 March 2013 over Q4 March 2012.
Tata Power Company is India’s largest integrated power company with a significant international presence. The company has an installed generation capacity of 8,521 MW in India and a presence in all the segments of the power sector viz generation (thermal, hydro, solar and wind), transmission, distribution and trading.