ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved an increase of Rs 2.74 per unit in the electricity price, attributing it to the second Quarterly Adjustment for FY2023-24.
This adjustment, amounting to Rs 85.2 billion, will have a uniform impact of Rs 2.7492 per kWh. As a result, the existing two quarterly adjustments of Rs 4.43 per kWh will cease to exist from March 30, 2024.
To alleviate the impact on consumers, the power regulator has decided to implement the adjustment from April 2024 onwards, following the expiration of the current applicable quarterly adjustments.
The decision of the second quarterly adjustment is intimated to the federal government before notification.
On the other hand, consumers should be ready to face another hike in electricity rates by Rs 4.99 per unit on account of the fuel charge adjustment (FCA) for February 2024.
NEPRA conducted a public hearing on Thursday to deliberate on a proposed increase in electricity prices by Rs 4.99 per unit.
This request, linked to February’s monthly fuel adjustment, comes at a critical juncture marked by a 12.2% decline in electricity demand and mounting concerns over escalating costs.
During the public hearing, the Central Power Purchasing Agency (CPPA) disclosed that electricity demand reduced significantly during February, attributing it to various factors.
Member NEPRA Rafiq Shaikh expressed apprehensions regarding the mounting capacity payments, stressing the urgency of devising strategic measures to mitigate these expenses.
Meanwhile, officials from the National Transmission and Dispatch Company (NTDC) emphasised the indispensable role of operating LNG-powered plants to uphold the stability of the power system.
