Nepra slashes electricity prices by Rs7.83 for Karachiites
In another cut, regulatory authority decreases Rs2.15/unit price of electricity under the head of monthly adjustment for October
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Good news for Karachiites as Nepra on Wednesday slashed electricity prices for them two times under the heads of quarterly and monthly fuel adjustments, reported 24NewsHD TV channel.
The National Power and Regulatory Authority allowed the K-Electric to decrease electricity prices by Rs7.83 per unit for its consumers under the head of quarterly adjustment charges.
The adjustment was made during the quarter started from July to Sept 2022.
Earlier in the day, the Nepra allowed K-Electric to cut power prices by Rs2.15 per unit.
The regulatory authority approved Rs2.15/unit price cut in electricity tariff under the head of monthly fuel adjustment for the month of October.
The Nepra decision will provide Rs3.59 billion relief to the electricity consumers in Karachi.
However, the Nepra decision will not be applicable to the life-line consumers of K-Electric.
The regulatory authority will release its detailed judgement later.
However, the Nepra has sent its decisions to the federal government.
Earlier, Nepra concluded a public hearing on the monthly fuel adjustment (FCA) for October and 1st quarterly adjustment (July-September) for the current fiscal year 2022-23 of K-Electric.
The hearing was presided over by NEPRA Chairman engineer Tauseef H Farooqi while member Sindh engineer Rafique Ahmed Shaikh and member Khyber-Pakhtunkhwa engineer Maqsood Anwar Khan were also present.
The K-Electric has sought Rs1.88 per unit and Rs7.88 per unit decrease in power tariff for October and the first quarter respectively under monthly fuel adjustment and quarterly adjustment mechanisms.
However, the NEPRA calculated Rs 2.15 per unit decrease in FCA for the said period. The FCA would be applicable for only one month. However, it would not be applicable to domestic consumers using up to 300 units, agriculture consumers and electrical vehicle charging stations.
The K-electric officials told that the average cost of KE own power plants remained at Rs32.96 per unit while the cost of electricity purchased through the Central Power Purchasing Agency stood at Rs12.1 per unit.
Reporter Awais Kiyani