The National Electric Power Regulatory Authority (NEPRA) has announced a hike in the basic electricity tariff by Rs5.72 per unit, effective from July 1, 2024. This increase will raise the current base tariff from Rs29.78 to Rs35.50 per unit.
The capacity charges, a major component of the base price, are Rs18.10 per unit, accounting for 51 percent of the total cost. As a result, the total capacity payment is expected to reach approximately Rs2.091 trillion for the fiscal year 2025.
This proposal has been submitted to the federal government for final approval. The government will decide whether to implement the increase immediately or to phase it in over time. It is important to note that in the current fiscal year (FY24), the electricity tariff was raised by Rs7.50 per unit, while in the previous fiscal year (FY23), there was an increase of Rs7.91 per unit.
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In a contrasting move, Prime Minister Shehbaz Sharif announced on Friday a significant reduction of Rs10.69 per unit in the electricity tariff for the industrial sector. This reduction is part of the Prime Minister’s historic power package aimed at bolstering the country’s industrial sector.
Additionally, the petrol price has been reduced for the fourth consecutive time, decreasing by Rs10.20 to Rs258.16 per litre.
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