This paper examines how electricity reliability may affect the operating hours and capital investment decisions of micro-businesses in Maharashtra, India. While access to electricity has expanded substantially, having a grid connection does not necessarily guarantee a reliable or predictable supply. For micro-businesses operating with limited financial resources, frequent power interruptions and poor power quality can reduce productive operating time, leave electricity-dependent equipment underutilised, increase operating costs and create uncertainty around future investment. The study adopts a theoretical secondary research approach, drawing on existing literature on electricity reliability, firm productivity, capacity utilisation, infrastructure and investment under uncertainty. Rather than estimating a direct causal relationship using original business-level data, the paper synthesises these strands of literature to develop a conceptual framework for understanding how electricity reliability can influence micro-business decisions. The analysis focuses on two main channels: the effect of electricity reliability on productive operating time and capacity utilisation, and its potential effect on the expected returns and risks associated with capital investment. The paper argues that the economic value of electricity cannot be fully captured by measuring access alone. For micro-businesses, the reliability and predictability of supply may influence how effectively existing productive resources are used and the conditions under which further investment becomes worthwhile. The study concludes by considering the implications for electricity and MSME policy in Maharashtra and identifying areas for future empirical research.