NEPRA approves hike in electricity rates, 2nd time in Feb 2021
As per details, NEPRA has approved an increase of Rs 0.83 per unit in electricity prices, but the increase will take effect after a notification is issued by the government.
NEPRA has issued a decision to increase electricity prices, which states that the increase in electricity prices was made on a quarterly basis and the increase in electricity prices was made in the context of adjustment for 2019-20.
According to NEPRA, the increase in electricity prices has been made for one year which will impose an additional burden of Rs 84 billion on the consumers. However, K Electric and Lifeline consumers will be exempted from the increase.
Earlier, the Federal Government approved a massive increase in tariffs of Distribution Companies (Discos) – by approximately Rs 3.50 per unit, of which Rs 1.5359 per unit raise is for December 2020 under monthly fuel price adjustment mechanism and Rs 1.95 per unit raise in base tariff, days before formal resumption of IMF’s suspended programme.
On Wednesday, NEPRA notified an increase of Rs 1.5359 per unit in Discos tariffs for December 2020 whereas formal notification of “approved” uniform increase of Rs 1.95 per unit in base tariffs of Discos will be notified on Thursday (today) or Friday (tomorrow).