In a move that has sent shockwaves through the public, the National Electric Power Regulatory Authority (Nepra) has given the green light to an increase of Rs1.15 per unit of electricity for distribution companies (DISCOs).
The approval for this hike, amounting to Rs 1.15 per unit, was granted in the context of the quarterly adjustment, as outlined in the notification issued by Nepra. This adjustment is expected to place an additional burden of a staggering Rs 22.29 billion on consumers.
The notification, now forwarded to the government for final approval, signifies that the increased electricity prices are slated to come into effect from January 1, 2024. Once the government gives its nod, consumers, including those served by K-Electric, will experience the impact of the price hike.
The approved increase is applicable for the next three months, extending until March 2024. This development has sparked concerns among the public, as the rising cost of electricity continues to strain household budgets and exacerbate economic challenges.
The quarterly adjustment mechanism, while designed to ensure the financial health of power distribution companies, often leads to periodic increases in electricity prices. The burden falls squarely on the shoulders of consumers, further fueling debates about the affordability of essential services.
As the approval awaits government confirmation, citizens are left grappling with the imminent rise in electricity costs, adding another layer of financial stress in an already challenging economic environment. The impact of this decision will be felt across all segments of society, heightening the urgency for sustainable solutions to address the complexities of the energy sector and alleviate the burden on consumers.
