NEPRA announces reduction in electricity prices

ISLAMABAD: Following PM Shehbaz Sharif’s recent announcement regarding a reduction in electricity prices, an official notification from the National Electric Power Regulatory Authority (NEPRA) has been issued confirming the price cut under the quarterly adjustment. ARY News reported on Thursday.

The notification offers consumers relief of up to Rs3.02 per unit. The adjustment, applicable for the October- December 2024 quarter, will reduce electricity rates by Rs1.90 per unit, effective from April to June 2025.

This reduction in electricity prices follows a request submitted by various power distribution companies, including Karachi’s K-Electric, seeking relief for consumers amid fluctuating energy costs.

Karachi will see an even greater reduction, with power tariffs slashed by Rs3.02 per unit, while the rest of Pakistan will experience a decrease of Rs0.46 per unit.

The move is expected to provide an economic relief of Rs56.38 billion to electricity consumers, easing financial pressures amid increasing energy demands. However, the adjustment will not apply to lifeline or prepaid users, as clarified in the official NEPRA notification.

NEPRA had held hearings in February regarding the quarterly adjustments, with multiple stakeholders emphasizing the importance of making electricity more affordable.

Alongside the quarterly adjustments, separate notifications have been issued regarding monthly pricing revisions, further regulating electricity costs.

According to NEPRA’s notification, the relief from this reduction in electricity prices will be reflected in electricity bills starting in April 2025. For Karachi consumers, an additional decrease was observed in the monthly adjustment for January 2025, offering further financial ease.

This initiative aims to stabilize energy prices, ensuring affordability for residential and commercial consumers alike.

The government continues to evaluate energy policies to balance costs while maintaining a sustainable electricity supply.

Earlier, Prime Minister Shehbaz Sharif announced a significant reduction in electricity prices, describing it as a major relief for the public. Speaking at an event organized for the announcement, he revealed that the government has decided to lower the electricity tariff by Rs 7.41 per unit for domestic consumers and Rs 7.59 per unit for industries.

The prime minister expressed confidence that this reduction would stimulate economic activities across the country, referring to it as a gift to the nation in celebration of Eid.