Once again, the National Electric Power Regulatory Authority (Nepra) approved an increase in the price of electricity by Rs1.55, 24NewsHD TV channel reported Thursday. 

The price increase was made in the form of quarterly adjustment and it will take effect in July. An increase of Rs1.55 per unit will be applicable to 10 distribution companies for three months.

The authority approved an increase of Rs5.28 per unit in the electricity tariff of K-Electric (KE) on account of the fuel cost adjustment for April 2022 a couple of days ago. 

Reportedly, there was an additional burden of Rs4 billion on the electricity consumers in April because of the consumption of furnace oil in power plants. KE had sought a tariff hike of Rs5.30 per unit under the fuel cost adjustment and Rs3.89 per unit under the quarterly adjustment.

Nepra conducted a public hearing on the petition submitted by KE for fuel charges adjustment for April 2022 and quarterly adjustment for January-March 2022. During the hearing, KE authorities informed the regulator that global oil prices had jumped 22%, which was the reason for the high production cost.