Record Rs39 per unit hike in power tariff in 2024 bamboozles consumers
NEPRA says electricity prices for K-Electric consumers went up by Rs26.11 per unit
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While 2024 proved to be a good year for people as prices of items of daily use came down, a record increase in electricity prices during the same year not only hit the industrial sector hard but also forced domestic consumers to install solar plates so that they did not have to pay inflated electricity bills, reported 24NewsHD TV channel on Saturday.
The tariff for the consumers of state-owned power distribution companies (DISCOs) went up by Rs39 per unit in just one year, while there was a hike by Rs26.11 per unit in the tariff for the consumers of Karachi Electric (K-Electric).
The consumers were given electric shocks under the heads of monthly and quarterly fuel price adjustments as well as line losses and capacity payments.
Hence, an additional burden of millions of rupees was put on them.
According to the National Electric Power Regulatory Authority (NEPRA), electricity prices were increased eight times under the head of a monthly fuel adjustment, thus putting an additional burden of Rs32.68 per unit on consumers while these were reduced only four times under the same head during the year under review.
The NEPRA has said that similarly, the power tariff was increased four times under the head of quarterly fuel adjustment during the year, 2024; hence putting an additional burden of Rs6.57 per unit on the people.
The Authority goes on to inform that while on the one hand, a record hike in electricity prices gave sleepless nights to the people, on the other hand, the government was also forced to revisit its energy policy.
Prime Minister Shehbaz Sharif formed a Taskforce so that the power production cost could be brought down.
The Force held negotiations with the independent power producers (IPPs) so that the burden on the government as well on the people could be reduced.
So far, agreements with five IPPs have been terminated while negotiations with 13 IPPs are in the final stages, the NEPRA has informed.
The Authority has also shed light on the performance of Discos, which it had termed ‘disappointing’.
It has said that the poor performance of these DISCOs caused a loss of Rs596 billion to the national exchequer in just one year.
Moreover, the NEPRA has disclosed that 140 people lost their lives in the country during one year due to electrocution.
Reporter: Awais Kiani