Friday, December 9, 2022

NEPRA fixes electricity cost by Rs24.82 per unit for FY22-23

Following a significant increase of Rs7.91 per unit, the National Electric Power Regulatory Authority (NEPRA) has decided that the electricity tariff will be set at Rs24.82 per unit for the fiscal year 2022-2023.

The price of electrifying one unit has increased from Rs16.91 to Rs24.82 as a result of the recent price increase. A number of factors have been pointed to as justifications for the increase in the price of power, including the devaluation of the rupee and the rise in the price of oil on foreign markets.

According to the statement, Nepra has decided that the national average electricity rate will be set at Rs24.82 per unit for the fiscal year 2022-2023. This represents a rise of Rs7.91 per unit from the average tariff that was in place previously.

In addition, the statement explained that the authority decides on the new tariff by taking into account the distribution and transmission losses, as well as the revenue generated by the various distribution businesses. According to a press statement issued by the NEPRA, the total anticipated cost of capacity, which takes into account both NTDC and HVDC, is Rs1366 billion.

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Earlier, K-Electric, the sole power company in Karachi, submitted a proposal to the National Electric Power Regulatory Authority (NEPRA) asking for another rise in rate under fuel adjustment costs of Rs4.86. 

According to the request, the electricity utility has requested an increase in its rates of Rs4.52 for the months of January through March 2022, as well as an increase of Rs0.36 for the month of April.

The petition for a hearing that was submitted by the KE will be reviewed by the national power regulator on June 12th, 2022.

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