National Electric Power Regulatory Authority (Nepra) has authorized an increase in power pricing of Rs2.7492 per unit for the second quarter of the financial year 2023–24.
Consumers would be impacted by the quarterly adjustment by a total of Rs85.2 billion for the October through December fiscal year of FY24.
Beginning on March 30, 2024, the two quarterly adjustments of Rs4.43 per kWh that are now in effect will no longer be in effect.
Nepra made the decision to implement the second quarterly adjustment in April 2024, that is, when the current quarterly adjustments expire, while taking customer interest into consideration. With the exception of lifeline customers, the second quarterly adjustment will be collected from all ex-Wapda distribution companies (DISCOs) and K-Electric customers over the course of three months, from April to June 2024.
Customers would thus see a reduction in their monthly costs of Rs1.68/kWh from April to June 2024 as a result of the previous two quarterly adjustments expiring.
The request for a tariff hike, which was related to the fuel prices in February, was made at a crucial time when there was a 12.2% decrease in the demand for power and growing worries about rising prices.
The Central Power Purchasing Agency-Guarantee (CPPA-G) revealed during the hearing a notable decrease in energy usage in February, which it ascribed to various circumstances.
Nepra Member Rafiq Shaikh emphasized the need for swift action to reduce these costs even as he voiced concerns about the growing capacity payments.
