ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Wednesday, hinted at a rise in the power rates for both K-Electric and consumers of other power distribution companies (DISCOs).
According to NEPRA, power tariffs for K-Electric customers will increase by Rs 2.31 per unit. The move is projected to inflict an additional expense of Rs 4.30 billion on Karachi consumers, raising concerns among inflation-hit masses who are already concerned about economic woes. Meanwhile DISCOs’ customers will also face a Rs 1.81 per unit hike.
The increased electricity tariffs are slated to go into effect in August. The increase, however, will not apply to K-Electric Lifeline subscribers or Electric Vehicle Charging Stations.
Before announcing the fuel price increase, NEPRA held separate hearings for K-Electric and DISCOs customers. NEPRA will issue the detailed decision on the FCA for June after thoroughly reviewing the relevant data.
The increase in energy prices is attributable to rising fuel costs in June 2023. During the same time period, K-Electric generated power at a cost of Rs 24.90 per unit from its own resources, whereas the cost of electricity received from the federal government was Rs 11.56 per unit.
The FCA hearing also focused on the delays in issuing Requests for Proposals (RFPs) for renewable energy projects. Several renewable energy projects are now on hold for NEPRA approval. Rehan Javed, an industrial consumer in Karachi, voiced concern about the upcoming RFPs and stressed their potential to offer inexpensive and affordable power through renewable energy projects. These projects will ultimately lead to the lowering of electricity bills for enterprises and commercial organisations in the city.
Rafique Ahmed Shaikh, NEPRA Member Sindh, had previously expressed worry about KE’s progress in raising its renewable energy share, attributing the delay to the pending RFPs awaiting approval. The incorporation of renewables into Pakistan’s energy mix is viewed as critical for ensuring price stability and lowering the country’s reliance on imported fossil fuels.
With electricity rates in Pakistan expected to reach all-time highs as a result of the Ministry of Energy’s recent petition to raise base tariff for the next fiscal year, the incorporation of renewables into the country’s energy mix is more important than ever. It is regarded as an important step toward establishing price stability and decreasing Pakistan’s reliance on imported fossil fuels.
In the case of DISCOs customers, NEPRA has indicated a fuel adjustment hike of Rs 1.81 per unit in June, which will apply to all DISCOs customers except Lifeline and electric vehicle charging stations.
According to NEPRA, consumers would be taxed 9 paise per unit less for fuel adjustment in June than in May 2023. NEPRA will publish a detailed judgement on the fuel price adjustment after additional examination of the relevant data.
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