Electricity prices slashed by Rs. 1.23 per unit

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved a reduction in electricity prices by Rs. 1.23 per unit for a month, ARY News reported.

According to a notification issued here, the reduction is applicable for the month of February and is a result of the monthly fuel adjustment for December, according to NEPRA.

The relief will be reflected in the electricity bills for February. However, the reduction will not apply to lifeline electricity and electric vehicle charging stations.

K-Electric consumers will also benefit from the price reduction of Rs. 1.23 per unit, as part of the monthly fuel adjustment for November.

Karachi’s electricity consumers can expect relief in their February electricity bills. NEPRA has issued a notification regarding the reduction in electricity prices.

The price reduction will provide relief to electricity consumers across the country, including Karachi, for the month of February.

The power companies had filed a petition seeking a reduction of Rs 52.12 billion in the tariff, which is part of the second quarterly adjustment for the current fiscal year.

The request included a reduction of Rs. 50.66 billion in capacity charges, Rs. 2.66 billion in transmission and distribution losses, and Rs. 2.69 billion in operation and maintenance expenses.

Earlier on February7, Prime Minister (PM) Shehbaz Sharif said that electricity tariffs will further be reduced for domestic consumers and industries through reforms in the electricity sector.

He expressed satisfaction with the current changes in the electricity sector, stating that they are producing great results, while chairing a review meeting of the sector in Islamabad on Friday.

PM Shehbaz said that he has pledged to guarantee the supply of affordable and sustainable power. He said revising agreements with IPPs is saving the national treasury and reducing electricity prices for consumers.

The Prime Minister made reference to the campaign against power theft and pledged to speed it up even further in order to completely eradicate the losses incurred by all distribution firms in this area.

PM Shehbaz said that appointment of well-reputed board members from the private sector in electricity distribution companies is improving their performance. He said the reduction in transmission losses of electricity is also a clear indication of the positive results of the reforms.