Electricity affordability is an important dimension of household welfare, particularly where electricity subsidies are used to reduce the cost of an essential service. This study examines the perceived financial impact of the Gruha Jyothi Scheme among domestic consumers served by the Mangalore Electricity Supply Company Limited (MESCOM) in Mangaluru, Karnataka. The study uses a descriptive and analytical design and draws on primary data from 200 beneficiaries selected through convenience sampling. A structured questionnaire measured Scheme Exposure, Electricity Consumption Behaviour, Influencing Factors, Financial Impact, Financial Benefit, Utilization of Savings and Financial Dependency using five-point Likert-scale items. Data were analysed using descriptive statistics, Cronbach’s alpha, Pearson correlation, multiple linear regression, one-way ANOVA and an independent-samples t-test. Scheme Exposure recorded the highest construct mean (M = 3.053), whereas Financial Benefit recorded the lowest (M = 2.637), indicating moderate awareness and perceived financial gains. Influencing Factors had the strongest association with Financial Impact (r = 0.607, p < 0.001), followed by the relationship between Financial Impact and Utilization of Savings (r = 0.590, p < 0.001). The regression model was statistically significant, F (6,193) = 33.634, p < 0.001, and explained 51.1% of the variance in Financial Impact (R² = 0.511; adjusted R² = 0.496). Influencing Factors (β = 0.399), Utilization of Savings (β = 0.320), Financial Benefit (β = 0.185) and Scheme Exposure (β = 0.127) were significant positive predictors. Electricity Consumption Behaviour and Financial Dependency were not significant predictors. Age was significantly associated with Scheme Exposure, whereas gender was not significantly associated with Financial Benefit. The findings indicate that the consumer-side financial experience of the scheme is associated not only with bill relief but also with awareness, household circumstances and the way savings are utilised. However, several measurement scales showed weak reliability, including a negative alpha for Electricity Consumption Behaviour; therefore, the inferential findings should be regarded as exploratory until the original dataset and item coding are revalidated. The study contributes localized evidence on the household financial dimension of an electricity subsidy programme in coastal Karnataka.