ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has announced a significant increase in electricity prices as part of its quarterly adjustment for the current financial year.
The hike, which will be implemented over the next three months, will see electricity prices rise by Rs1.90 per unit in June, followed by a 93 paisa per unit increase in July and August. This adjustment is expected to add a burden of over Rs46 billion to power consumers, including those served by K-Electric.
Additionally, electric vehicle charging stations will see a price increase of Rs3.28 per unit. The hike is aimed at covering the increased costs incurred by electricity providers and is part of a routine procedure that aligns electricity prices with the changing costs of power production and distribution.
The decision, which was approved by Nepra on June 1, will likely add to the financial burden of households and businesses amid rising inflation. The increase in electricity prices will be felt most keenly during the peak summer season when consumption is typically high. As a result, consumers can expect higher electricity bills over the next three months.
The quarterly adjustment is a regular process that allows Nepra to adjust electricity prices in response to changes in the cost of power production and distribution. While the hike may be necessary to ensure the sustainability of the power sector, it is likely to be a controversial move, given the already high levels of inflation and the impact on household and business budgets.
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