MUMBAI: Adani Electricity on Thursday announced that no interest will be charged on the EMI facility available for over 25 lakh residential consumers to pay their hefty June bills. The power utility firm had charged 9-10% interest on EMI payments as per MERC guidelines. The EMI facility is available to all those who have received June electricity bills more than double their average amount.
Adani Electricity CEO Kandarp Patel’s decision comes close on heels of state energy minister Nitin Raut announcing zero-interest EMIs for over 2 crore consumers of MSEDCL in the state.
While Tata Power declined to comment on the interest being charged on EMI payments, a senior BEST official said that the additional income generated from the 12% interest it will charge consumers will be declared in the annual revenue requirement before MERC and help reduce the tariff rates in island city for next year.
Adani Electricity does not get any subsidy from the government, yet it has waived the interest rates and stands to lose “a substantial additional income”, sources in the power firm said.
Meanwhile, over 2 lakh consumers have complained to various power distribution companies in the state about ‘inflated bills’. MERC has asked them to either approach the Consumer Guidance Redressal Forum or the electricity ombudsman, if not satisfied with any discoms.
Consumer rights activist Anil Galgali has written to the MERC and chief minister Uddhav Thackeray alleging that Adani has not dispatched bills to several consumers and therefore, they did not arrive on time. “Now the bills are being hung on the meters and not delivered at homes, which is unwarranted,” he added. But Adani officials said they have been taking meter readings since June 10, and will continue till July 15 and the bills are reaching on time.