NEPRA approves 29% hike in hydropower tariff for 2022-23

The National Electric Power Regulatory Authority (NEPRA) has granted approval for a 29 per cent increase in the tariff for hydropower.

The average rate for hydroelectricity has been adjusted from Rs3.85 paisa to Rs4.96 paisa per unit for the fiscal year 2022-23, following a request from the Water and Power Development Authority (WAPDA).

NEPRA subsequently forwarded the decision to raise hydropower tariff to the federal government.

Read more: Crackdown on Dollar speculation: exchange companies begin to deposit dollars with SBP

Previously, on behalf of power distribution companies, the Central Power Purchasing Agency-Guarantee (CPPA-G) had sought an increase of Rs2.0703 per kilowatt-hour (kWh) above the reference fuel cost of Rs6.8935 per kWh.

In July, power companies also recorded the highest cost of electricity generation, with data provided to NEPRA revealing that electricity produced by furnace oil-based plants incurred a cost of Rs28.7 per unit.