ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has reduced the price of electricity by 1 rupee 55 paise per unit. The reduction will be applicable from May to July 2024, providing a total relief of Rs 52.6 billion to domestic and industrial consumers across the country.
As per the NEPRA notification, the decision has been taken under the third quarter adjustment of the current financial year. In addition, Karachi customers have been given an additional reduction of RS. 3.64 paise per unit** under the February fuel adjustment, which will be applicable in the areas governed by K-Electric.
According to experts, the reduction in global fuel prices and improvement in the cost of electricity generation are the main reasons for this decision. This step has been taken in view of public grievances, which is expected to reduce some of the inflation burden.
The new prices will come into effect in May. While the possibility of further adjustments in the future has also been indicated if fuel prices remain stable.
