The National Electric Power Regulatory Authority (Nepra) has issued a notification regarding a rise in electricity prices as part of the quarterly adjustment for the ongoing financial year. This increase will affect consumers over the next three months.
As per the notification, electricity rates will go up by Rs1.90 per unit for June. For July and August, there will be a hike of 93 paisas per unit. Consequently, consumers can expect higher electricity bills from June to August 2024.
This adjustment will place a burden of over Rs46 billion on power consumers, including K-Electric customers. Additionally, an increase of Rs3.28 has been approved for electric vehicle charging stations.
The price revision is part of the routine third-quarter adjustment, which aligns electricity tariffs with the evolving costs of power generation and distribution. Nepra had previously submitted the decision to the federal government for approval before officially announcing the hike.
The extra collections from consumers, to be implemented over the summer period, aim to offset the increased expenses incurred by electricity providers.
In the context of escalating inflation, Nepra’s approval of a substantial electricity price increase on June 1 has added to the financial strain on electricity consumers in Pakistan. The hike, ranging from Rs1.90 to Rs3.28 per unit, will impact households and businesses alike.
Nepra justified the decision by citing the necessity for a quarterly adjustment, especially during the peak summer season when electricity consumption typically increase.
