Nepra moved for Rs3.41 per unit hike in power price

The National Electricity Power Regulatory Authority (Nepra) has been moved for a Rs3.41 per unit hike in electricity price, 24NewsHD TV channel reported on Saturday.  

The CPPA submits a request for the increase under the monthly fuel adjustment. Nepra will take up the matter on June 28.

Yesterday, NEPRA approved a significant increase in the basic electricity tariff, raising it by Rs 5.72 per unit for the financial year 2024-25. This adjustment will see the average basic electricity tariff rise from Rs 29.78 to Rs 35.50 per unit.

NEPRA has forwarded the necessary funds to the federal government to facilitate this increase, which is set to take effect from July 1, 2024.

However, the implementation method—whether the increase will be applied all at once or phased in gradually—will be determined by the federal cabinet.

The federal government had previously raised the basic electricity tariff by Rs 7.50 per unit in the current financial year, following a similar increase of Rs 7.91 per unit in the previous fiscal year.

For the financial year 2023-24, the hike was applied as a lump sum, while the financial year 2022-23 saw the increase implemented in three phases.

This latest adjustment by NEPRA underscores the ongoing efforts to manage the electricity sector's financial requirements amid rising costs. The federal cabinet's forthcoming decision will finalize how consumers will experience the new rates.