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MERC Adani Electricity Mumbai Limited (Distribution) Multi-Year Tariff (MYT) Order for FY2025-26 to FY2029-30 (Case No. 211 of 2024)

MERC order dated 28 March 2025 in Case 211 of 2024: a 470-page multi-year tariff (myt) order for Adani Electricity Mumbai Limited (Distribution), covering FY2025-26 to FY2029-30. Full section index with printed page numbers, key facts, and a link to the official order.

Key facts

Issuing authority
Maharashtra Electricity Regulatory Commission (MERC)
Case number
211 of 2024
Order date
28 March 2025
Petitioner
Adani Electricity Mumbai Limited (Distribution)
Entity
Adani Electricity Mumbai Limited (Distribution) (AEML-D)
Order type
Multi-Year Tariff (MYT) Order
Control period
CP-5 (FY2025-26 to FY2029-30)
Tariff regime
Section 62, Electricity Act 2003
Act sections cited
s.61, s.62
Licensee segment
distribution
Asset segment
distribution
State
Maharashtra
Length
470 pages

About this order

A Multi-Year Tariff (MYT) order determines a regulated entity’s Aggregate Revenue Requirement and tariffs for a full control period — typically five financial years — under Sections 61 and 62 of the Electricity Act, 2003. It usually combines a true-up of past years, a provisional true-up of the most recent year, and projections for each year of the new control period.

This order was issued by the Maharashtra Electricity Regulatory Commission, the electricity regulator for Maharashtra. It relates to the 5th control period, FY2025-26 to FY2029-30. The section index below is extracted from the order’s own structure; page numbers refer to the printed page in the official PDF.

Section index

  1. 1. BACKGROUND AND BRIEF HISTORY8 sections · p. 278
    1. 1.0. Demand Assessment and Forecastingp. 278
    2. 1.1. BACKGROUNDp. 278
    3. 1.2. MYT REGULATIONS, 2019p. 278
    4. 1.3. MYT ORDER FOR 4TH CONTROL PERIOD FROM FY 2020-21 TO 2024-25p. 278
    5. 1.4. MID-TERM REVIEW ORDER FOR 4TH CONTROL PERIODp. 278
    6. 1.5. MYT REGULATIONS, 2024p. 278
    7. 1.6. PETITION FOR APPROVAL OF MULTI-YEAR TARIFF, ADMISSION OF THE PETITION AND PUBLIC PROCESSp. 27
    8. 1.7. ORGANISATION OF THE ORDERp. 30
  2. 2. SUGGESTIONS / OBJECTIONS, AEML-D'S RESPONSES AND COMMISSION'S RULING52 sections · p. 30
    1. 2.1. SALES PROJECTIONp. 30
    2. 2.2. DISTRIBUTION LOSSp. 31
    3. 2.3. STANDBY CHARGESp. 33
    4. 2.4. WHEELING CHARGES METHODOLOGYp. 33
    5. 2.5. TARIFF HIKEp. 36
    6. 2.6. FIXED/DEMAND CHARGESp. 37
    7. 2.7. TARIFF FOR EV CHARGING STATIONSp. 37
    8. 2.8. SUBSIDY, CROSS SUBSIDY & ACTUAL COST SHOULD BE REFLECTED IN BILLSp. 39
    9. 2.9. RE TARIFF AND CAPPING OF CURRENT TARIFFp. 39
    10. 2.10. VIRTUAL NET METERING AND GROUP NET METERING FOR ROOF-TOP SOLARp. 40
    11. 2.11. ADVANCE PAYMENT OPTIONp. 40
    12. 2.12. NEW CATEGORY UNDER LT CATEGORYp. 41
    13. 2.13. DISTRICT COOLING SOLUTIONS UNDER INDUSTRIAL TARIFF CATEGORYp. 43
    14. 2.14. LENGTH AND STRUCTURE OF EXECUTIVE SUMMARY DOCUMENTp. 43
    15. 2.15. CATEGORY WISE TARIFF REVISIONp. 44
    16. 2.16. APPOINTMENT OF CONSUMER REPRESENTATIVEp. 44
    17. 2.17. PUBLIC NOTICE TO BE CIRCULATED ALONG WITH BILLSp. 44
    18. 2.18. TARIFF TO REFLECT COST OF SUPPLYp. 44
    19. 2.19. MEASUREMENT OF LOAD CURVEp. 44
    20. 2.20. UNITY POWER FACTORp. 45
    21. 2.21. BILLING DEMANDp. 45
    22. 2.22. STANDBY & GRID SUPPORT CHARGESp. 45
    23. 2.23. NO PENALTY FOR EXCEEDING THE CONTRACT DEMAND DURING NON-PEAK HOURSp. 47
    24. 2.24. UNINTERRUPTED POWERp. 47
    25. 2.25. CEILING TARIFFp. 49
    26. 2.26. PRIVATIZATION OF ELECTRICITYp. 49
    27. 2.27. GENERAL OBJECTIONSp. 50
    28. 2.28. SALES MIX AND TARIFF PARITYp. 52
    29. 2.29. PF & LF CONSIDERATIONp. 53
    30. 2.30. TARIFF PROPOSAL FOR HT AND LTp. 53
    31. 2.31. FAC RECOVERY PROJECTIONSp. 54
    32. 2.32. TARIFF TRAJECTORY DIFFERENCESp. 54
    33. 2.33. REFUND OF CONSUMER SECURITY DEPOSIT AND THEFT OF ELECTRICITY METER BY AEML-Dp. 55
    34. 2.34. DELAY IN BILL GENERATIONp. 55
    35. 2.35. USE OF PROPERTY / RESOURCES BY OTHER DIVISIONS AND GROUP COMPANIESp. 57
    36. 2.36. USE OF SOLAR POWER GENERATION FOR ALL OFFICES OF AEML-D AND REDUCE THE COST OF OPERATIONp. 57
    37. 2.37. AVERAGE BALANCE IN CURRENT BANK ACCOUNTp. 58
    38. 2.38. REDUCTION IN TIME FOR PROCESSING OF ONLINE REQUESTp. 58
    39. 2.39. PAST UNITS AND BILL AMOUNT DETAILSp. 58
    40. 2.40. FAILURE TO SHOW kVAh IN THE BILLSp. 59
    41. 2.41. PROMPT PAYMENT DISCOUNT ON POWER PURCHASEp. 59
    42. 2.42. STATUS OF CGRF & OMBUDSMAN ORDER COMPLIANCEp. 59
    43. 2.43. STATUS OF COMPLIANCE WITH SUPPLY CODE REGULATIONS, 2021 IN RESPECT OF POWER QUALITYp. 59
    44. 2.44. GRID SUPPORT CHARGES ON SOLAR CONSUMPTIONp. 61
    45. 2.45. RECOVERY OF DEMAND CHARGES INSTEAD OF FIXED CHARGES FOR SERVICE CATEGORYp. 61
    46. 2.46. TARIFF CHARGED TO PUBLIC TOILET BLOCKSp. 63
    47. 2.47. REGULATIONS FOR MANDATORY SALE AND USE OF ENERGY EFFICIENT APPLIANCESp. 64
    48. 2.48. THIRTY UNITS OF FREE ELECTRICITY TO ALL CONSUMERS IN BPL CATEGORYp. 64
    49. 2.49. ADOPTION OF NON-TELESCOPIC TARIFFp. 65
    50. 2.50. ISSUES RELATED TO AGRICULTURE CATEGORYp. 65
    51. 2.51. AMENDMENTS TO ELECTRICITY SUPPLY CODE REGULATIONSp. 67
    52. 2.52. Error in Public Notice published by AEML-Dp. 67
  3. 3. TRUING UP FOR FY2022-23 AND FY 2023-2432 sections · p. 67
    1. 3.0. Power Procurement Planningp. 291
    2. 3.1. SALES FOR FY 2022-23 AND FY 2023-24p. 68
    3. 3.2. OPEN ACCESS CONSUMPTIONp. 72
    4. 3.3. CHANGEOVER SALES ON TPC-D NETWORKp. 72
    5. 3.4. DEMAND-SIDE MANAGEMENT (DSM) MEASURESp. 74
    6. 3.5. DISTRIBUTION LOSSES AND ENERGY BALANCEp. 76
    7. 3.6. POWER PROCUREMENTp. 80
    8. 3.7. OPERATION AND MAINTENANCE (O&M) EXPENSESp. 110
    9. 3.8. CAPITALISATIONp. 123
    10. 3.9. CAPITALIZATION IN FY 2021-22p. 131
    11. 3.10. OPENING GROSS BLOCK FOR FY 2022-23p. 131
    12. 3.11. DEPRECIATIONp. 134
    13. 3.12. FINANCING PLAN AND INTEREST EXPENSES ON LOANp. 137
    14. 3.13. FERVp. 146
    15. 3.14. RETURN ON EQUITY (ROE)p. 147
    16. 3.15. INTEREST ON WORKING CAPITAL (IoWC)p. 156
    17. 3.16. INTEREST ON CONSUMERS' SECURITY DEPOSITp. 156
    18. 3.17. PROVISION FOR BAD AND DOUBTFUL DEBTSp. 165
    19. 3.18. CONTRIBUTION TO CONTINGENCY RESERVEp. 166
    20. 3.19. DSM EXPENSESp. 168
    21. 3.20. EV CHARGER EXPENSESp. 168
    22. 3.21. NON-TARIFF INCOME (NTI)p. 169
    23. 3.22. INCOME FROM OTHER BUSINESSp. 169
    24. 3.23. EFFICIENCY GAIN/ (LOSS) FOR FY 2022-23 AND FY 2023-24p. 175
    25. 3.24. ISSUE RELATED TO TRUE-UP SURPLUS OF AEML-Gp. 180
    26. 3.25. ISSUE RELATED TO REVENUE FROM WHEELING CHARGES AND CSS FOR FY 2023-24p. 180
    27. 3.26. ISSUE RELATED TO REFUND OF STANDBY CHARGES FROM TPC-Gp. 181
    28. 3.27. SUMMARY OF AGGREGATE REVENUE REQUIREMENTp. 182
    29. 3.28. REVENUE FROM OWN CONSUMERp. 182
    30. 3.29. REVENUE FROM WHEELING CHARGES FROM CHANGE-OVER AND OPEN ACCESS CONSUMERSp. 191
    31. 3.30. REVENUE FROM CROSS-SUBSIDY SURCHARGE FROM OA CONSUMERSp. 191
    32. 3.31. REVENUE GAPp. 193
  4. 4. PROVISIONAL TRUING-UP FOR FY 2024-2517 sections · p. 193
    1. 4.1. SALESp. 196
    2. 4.2. DISTRIBUTION LOSSES AND ENERGY BALANCEp. 205
    3. 4.3. POWER PROCUREMENTp. 208
    4. 4.4. OPERATION AND MAINTENANCE EXPENSESp. 229
    5. 4.5. CAPITALISATIONp. 230
    6. 4.6. DEPRECIATIONp. 232
    7. 4.7. FINANCING PLAN AND INTEREST EXPENSESp. 234
    8. 4.8. RETURN ON EQUITYp. 237
    9. 4.9. INTEREST ON WORKING CAPITALp. 240
    10. 4.10. INTEREST ON CONSUMER'S SECURITY DEPOSITp. 242
    11. 4.11. PROVISION FOR BAD AND DOUBTFUL DEBTSp. 242
    12. 4.12. CONTRIBUTION TO CONTINGENCY RESERVEp. 243
    13. 4.13. NON-TARIFF INCOMEp. 245
    14. 4.14. INCOME FROM OTHER BUSINESSp. 246
    15. 4.15. SUMMARY OF AGGREGATE REVENUE REQUIREMENTp. 248
    16. 4.16. REVENUEp. 251
    17. 4.17. REVENUE GAP/SURPLUS FOR FY 2024-25 FOR THE WIRES BUSINESS AND RETAIL SUPPLY BUSINESSp. 252
  5. 5. AGGREGATE REVENUE REQUIREMENT FOR 5TH CONTROL PERIOD FROM FY 2025-26 TO FY 2029-3020 sections · p. 252
    1. 5.1. SALESp. 254
    2. 5.2. APPROACH FOR PROJECTION OF NUMBER OF CONSUMERS FOR THE CONTROL PERIODp. 269
    3. 5.3. DISTRIBUTION LOSSES AND ENERGY BALANCEp. 272
    4. 5.4. RESOURCE ADEQUACY AND POWER PROCUREMENT PLANNINGp. 276
    5. 5.5. POWER PURCHASE QUANTUM AND COSTp. 294
    6. 5.6. OPERATION AND MAINTENANCE EXPENSESp. 317
    7. 5.7. TOTEX FOR SMART METER IMPLEMENTATIONp. 322
    8. 5.8. CAPITAL EXPENDITURE AND CAPITALISATIONp. 326
    9. 5.9. DEPRECIATIONp. 330
    10. 5.10. INTEREST ON LONG-TERM LOANp. 332
    11. 5.11. INTEREST ON WORKING CAPITALp. 336
    12. 5.12. INTEREST ON CONSUMER SECURITY DEPOSITp. 336
    13. 5.13. RETURN ON EQUITYp. 338
    14. 5.14. PROVISION FOR BAD AND DOUBTFUL DEBTSp. 341
    15. 5.15. CONTRIBUTION TO CONTINGENCY RESERVEp. 342
    16. 5.16. NON-TARIFF INCOMEp. 344
    17. 5.17. INCOME FROM OTHER BUSINESSp. 344
    18. 5.18. PAST PERIOD ADJUSTMENTp. 347
    19. 5.19. TRUE-UP SURPLUS OF AEML-Gp. 347
    20. 5.20. AGGREGATE REVENUE REQUIREMENT FOR FY 2025-26 TO FY 2029-30p. 353
  6. 6. CUMULATIVE REVENUE GAP, TARIFF PHILOSOPHY AND CATEGORY-WISE TARIFFS FOR FY 2025-26 TO FY 2029-3012 sections · p. 353
    1. 6.1. INCREMENTAL REVENUE GAP/SURPLUS FOR FY 2022-23p. 353
    2. 6.2. REVENUE GAP / SURPLUS FOR FY 2023-24p. 358
    3. 6.3. PROVISIONAL REVENUE GAP / SURPLUS FOR FY 2024-25p. 358
    4. 6.4. CUMULATIVE REVENUE GAP / SURPLUS TILL FY 2025-26p. 360
    5. 6.5. APPROACH FOR RECOVERY OF PAST GAP / (SURPLUS)p. 361
    6. 6.6. ALLOCATION OF ASSETS AND COST AT DIFFERENT VOLTAGE LEVELS AND COMPUTATION OF WHEELING CHARGESp. 366
    7. 6.7. CROSS SUBSIDY SURCHARGE (CSS)p. 375
    8. 6.8. AVERAGE COST OF SUPPLY (ACoS)p. 375
    9. 6.9. RETAIL AVERAGE COST OF SUPPLYp. 381
    10. 6.10. TARIFF REVISIONp. 383
    11. 6.11. TARIFF DESIGN CONSIDERATIONp. 384
    12. 6.12. REVISED TARIFF FOR THE CONTROL PERIOD FROM FY 2025-26 TO FY 2029-30p. 419
  7. 7. SCHEDULE OF CHARGESp. 430
  8. 8. DIRECTIVES IN THIS ORDER1 sections · p. 430
    1. 8.1. SUMMARY OF DIRECTIVESp. 439
  9. 9. APPLICABILITY2 sections · p. 439
    1. 9.1. APPLICABILITY OF REVISED TARIFFp. 440
    2. 9.2. APPLICABILITY OF ORDERp. 440
  10. 10. ANNEXURE I (A): REVENUE WITH REVISED TARIFFS FOR FY 2025-26p. 442
  11. 11. ANNEXURE I (B): REVENUE WITH REVISED TARIFFS FOR FY 2026-27p. 443
  12. 12. ANNEXURE I (C): REVENUE WITH REVISED TARIFFS FOR FY 2027-28p. 444
  13. 13. ANNEXURE I (D): REVENUE WITH REVISED TARIFFS FOR FY 2028-29p. 445
  14. 14. ANNEXURE I (E): REVENUE WITH REVISED TARIFFS FOR FY 2029-30p. 446
  15. 15. ANNEXURE II: TARIFF SCHEDULE FOR FY 2025-26 TO FY 2029-30p. 447
  16. 16. APPENDIX – 1: List of persons who attended the Technical Validation Session (TVS) held on 24 December, 2024p. 447
  17. 17. APPENDIX – 2: List of persons who attended Public Hearing dated 18 February, 2025p. 483

Index extracted from the official order. Page numbers are the printed page in the PDF; front-matter (table of contents, abbreviations) is not indexed.

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Official order PDF (MERC) · 470 pages.

Case details, dates and the section index on this page are extracted directly from the official order published by MERC. This page was assembled by CtrlPeriod Research using automated document analysis; it does not reproduce the order’s determined tariff figures. It is a research aid, not legal or financial advice — verify against the official order before relying on it.