ISLAMABAD: The government of Pakistan is set to impose another burden on electricity consumers by increasing security deposit rates by over 200%.
As per details, this decision came after eight electricity companies, including Peshawar Electric Supply Company (PESCO), Multan Electric Power Company
(MEPCO), Gujranwala Electric Power Company (GEPCO), Lahore Electric Supply Company (LESCO), Faisalabad Electric Supply Company (FESCO), Hyderabad Electric Supply Company (HESCO), Quetta Electric Supply Company (QESCO), and Tribal Areas Electric Supply Company (TESCO), submitted requests to NEPRA.
The increased security deposits will affect all categories of consumers, including domestic, commercial, industrial, and agricultural users. The companies claim that the current security deposits are insufficient to prevent defaults.
Nepra will hold a hearing today to discuss the matter and decide on the increase of security deposit. If approved, the increased security deposits will add to the already substantial burden on electricity consumers.
Last month, the National Electric Power Regulatory Authority (NEPRA) issued a notification announcing a 20-paise per unit increase in electricity prices.
According to reports, the increase in electricity prices was part of the quarterly adjustment for the first quarter of the current fiscal year. According to the notification, consumers will bear an additional burden of Rs1.18 billion in electricity prices.
NEPRA had previously finalized the July to September quarterly adjustment and sent the decision to the government.
The increase in electricity prices will be applicable for December 2024 only. However, the adjustment will not apply to lifeline and prepaid electricity consumers. Additionally, under the winter package, consumers using extra electricity will also be exempted from this quarterly adjustment.
