President Dr Mohamed Muizzu announced yesterday that he has instructed the relevant authorities to reduce electricity tariff rates for the domestic category, with the changes set to take effect from Sunday, June 1 onwards.
The President shared the new tariff rates in a post on X, outlining that the reduction aims to be implemented sustainably.
The Utility Regulatory Authority (URA) will direct utility providers, including the State Electric Company Limited (STELCO) and FENAKA Corporation, to apply the revised tariffs and oversee the process.
Currently, electricity bills are calculated based on units consumed, with higher charges applied if usage exceeds 500 units. The previous rate of MVR 4.25 per unit has been lowered to MVR 3.80 per unit, which is expected to reduce the overall electricity costs for domestic consumers.
