National Electric Power Regulatory Authority (NEPRA) on Thursday announced cut in electricity prices in a monthly adjustment for the entire country.
According to the notification by NEPRA, electricity prices were slashed by Rs3 per unit for people in Karachi while the rest of country would get cheaper electricity by Rs2.12 per unit.
Consumers will experience the relief in their electric bills for the month of March, 2025. Although the reduction in electricity prices are nominal; however, any relief would be welcomed by the majority of public.
Previously, the government had vowed to reduce electricity prices for which it would borrow a loan for a specific period.
Reportedly, the government is trying to slash the power prices by Rs6-8 per unit for upcoming months through procuring a Rs1,300 billion loan.
Government officials already claim that they have saved Rs700 billion through negotiating contracts with Independent Power Producers (IPPs).
Earlier, NEPRA raised concerns over low water availability for hydro-power which could potentially increase the country’s dependency on imported fuels for power production, leading to higher prices.
NEPRA Chairman Waseem Mukhtar warned about the upcoming higher demand of electricity in summers and low rainfall throughout winter.
Senior management officials from the National Power Control Centre (NPCC) apprised NEPRA about the below expectation water levels in the national reservoirs. This would mean less electicity would be generated from hydropower plants.
To meet the higher demand of electricity in summer, the country would need to import regasified liquefied natural gas (RLNG) – a more expensive substitute of hydro-power.
Meanwhile, NEPRA had also imposed a fine of Rs10 million on the National Transmission and Dispatch Company (NTDC) citing its negligence in maintenance work that resulted in serious accidents.
