NEPRA approves up to Rs4.45 per unit hike for K-Electric consumers

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved an increase in electricity rates for K-Electric consumers by up to Rs4.45 per unit for the first quarter of the fiscal year 2022-23.

According to NEPRA, this decision was made after considering the quarterly adjustment request filed by the federal government on behalf of K-Electrict.

The NEPRA has forwarded the notification of the decision to the Ministry of Energy for approval. The additional charges will be applicable to K-Electric consumers for the months of October and November 2023, and will be recovered in the subsequent billing cycles.

This approval allows for an increase in electricity prices from Rs1.49 to Rs4.45 per unit, depending on the consumption slabs.

CPPA requests NEPRA for another hike in electricity prices

The NEPRA granted approval for the rate hike in response to the request of the federal government, which had earlier agreed to provide a subsidy of Rs4.5 per unit to K-Electric consumers for July and August 2023.

The federal government had also directed NEPRA to allow K-Electric to recover its fuel cost adjustment and quarterly adjustment dues from its consumers.

The increased rates will be implemented for K-Electric consumers once the Ministry of Energy issues the notification. K-Electric is a privately owned and vertically-integrated electricity company based in Karachi, which serves a customer base of over 3.4 million consumers.