MSEDCL to demerge agri consumers

MUMBAI: State-run power company, Maharashtra State Electricity Distribution Company Ltd (MSEDCL), has initiated a demerger to set up a company exclusively for its agriculture consumers. The move is aimed at mopping up ₹75,000 crore in outstanding dues, ahead of a planned stock market listing.

- Saurabha Kulshreshtha

With a consumer base of over 2.8 crore, MSEDCL serves electricity consumers in parts of the eastern suburbs, Thane, Navi Mumbai, Kalyan, Vasai-Virar and other parts of Maharashtra. But for over a decade, it's been facing a financial crisis with rising debt and arrears from agricultural consumers, currently amounting to ₹98,000 crore.

Speaking at a function on the listing of bonds issued by the