NEPRA hikes tariff by Rs5.72 per unit from July 2024

MG News | June 17, 2024 at 04:15 PM GMT+05:00

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June 17, 2024 (MLN): The National Electric Power Regulatory Authority (NEPRA) has hiked the basic electricity tariff by Rs5.72 per unit applicable from July 1, 2024.

The Basic tariff on electricity currently stands at Rs29.78 and after incorporating this increase, the new base price will be Rs35.50 per unit.

Capacity charges under the base price amount to Rs18.10 per unit (51%), which will bring the total capacity payment to around Rs2.091 trillion for FY25.

Moreover, this decision has been forwarded to the federal government for final approval, which will determine whether it will be applied immediately or phased in over time.

It is worth mentioning that in the ongoing fiscal year (FY24) the tariff was increased by Rs7.50 per unit and in the previous one (FY23) the government implemented an increase of 7.91 per unit.

In contrast, Prime Minister Shehbaz Sharif on Friday announced a significant reduction of Rs10.69 per unit in electricity tariff for the industrial sector.

The reduction in electricity prices has been made under the Prime Minister's historic power package for the improvement of the country's industry.

Additionally, petrol price was reduced for the fourth consecutive time, down by Rs10.20 to Rs258.16 per liter.

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