Another financial shock has come to electricity consumers across the country as the National Electric Power Regulatory Authority (Nepra) has issued a notification to increase electricity prices by Rs 1.63 per unit. This increase has been made under the monthly fuel price adjustment for January and will be applied in March bills.
According to the notification, this increase has been made under the monthly fuel adjustment after the quarterly adjustment. This decision will be applicable across the country, including Karachi, and K-Electric consumers are also included in it.
Officials say that the purpose of fuel adjustment is to pass on the change in the cost of electricity generation to the consumers. If the fuel used to generate electricity becomes expensive, its burden is included in the per unit price. Similarly, if the prices are low, consumers are also given relief.
According to NEPRA, this increase will be applicable to all general consumers; however, lifeline consumers, who use limited units, will be exempted from this decision. Similarly, this increase will not be applicable to electric vehicle charging stations.
Economists say that frequent adjustments in the energy sector are affecting the budget of general consumers. Already rising inflation, rising food prices and fuel costs have increased the difficulties of the people. In such a situation, a further increase in electricity bills can affect both domestic and industrial consumers.
Business circles say that the cost of production will increase due to the increase in electricity, which can also affect the prices of essential goods. According to industrialists, stability in energy prices is essential for economic development.
According to the government’s position, fuel price adjustments are made under a regular and transparent system aimed at maintaining financial balance in the power sector. Officials say that if fuel prices in the global market decrease, consumers will also benefit.
Currently, consumers will have to pay extra on their March bills, while the exemption for lifeline consumers will provide some relief. Future prices in the energy sector will depend largely on global fuel market trends.
