Islamabad: According to the most recent information, the Federal Government has asked the National Electric Power Regulatory Authority (NEPRA) to increase energy rates by Rs. 3.28 per unit. The increase will take effect in October 2023 and last until March 2024. In accordance with the Quarterly Tariff Adjustment (QTA) procedure, this new electricity rate is raised. This increase is allegedly intended to alleviate additional financial problems brought on by the current economic climate and elevated interest rates. More than 140 billion rupees would be added to the load already placed on electricity consumers as a result.
Power Distribution Companies (DISCOS) requested that NEPRA accept this price in order to make tariff modifications for the fourth quarter of FY 2022–23. DISCOS asked for a 5.40 rupee increase. Instead of three months at Rs. 3.28/unit, the extra money will be collected from customers in six invoices from October 2023 to March 2024.
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Additionally, all consumers, even those who use Karachi Electric, would be affected by the increase in electricity prices. It is important to note that lifeline consumers will not be affected by the increase in electricity costs.
In order to achieve uniformity, the Power Division also approached NEPRA about raising prices for all electric consumers. Following a thorough analysis of the data and public hearings, NEPRA declared a correction of Rs. 135.584 billion.
The basis for this adjustment is the Financial Cost Adjustment (FCA) impact on Transmission and Distribution (T&D) losses for the fourth quarter of the fiscal year 2022–23, as well as capacity charges, variable O&M (Operations and Maintenance) costs, additional recovery on incremental sales, use of system charges, market operator fees, and other factors.
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Consumers who use Distribution Companies (DISCOS) will pay roughly Rs. 160 billion, or $3.87 per unit, under the revised rate that NEPRA approved. Although sources indicated that the impact on K Electric Consumers would be greater than Rs. 40 billion, bringing the total to more above Rs. 200 billion, no exact information was provided.
The earlier rise of Rs. 7.5/unit, which took effect on July 1, 2023, had an impact of Rs. 890 billion, minus the 18% GST and fuel price changes. This QTA is an addition to that increase. One of the primary causes of this additional quarterly expense, according to DISCOS and the Power Division, was a 13% decrease in electricity consumption when compared to the appropriate authorities for establishing reference prices.
The actual amount of power sold between April and June 2023 was 32,661 gigawatt hours (GWh), down from the projected prediction of 37,645 GWh. It will be burdensome for those who are currently struggling to make ends meet due to inflation when the power rate increases after July.
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