Brace yourselves, electricity consumers, as your February bills are likely to pack another punch.
The National Electric Power Regulatory Authority (NEPRA) has issued an initial recommendation to increase the electricity price by a significant Rs5.62 per unit, based on December's fuel price adjustment. The meeting was chaired by Nepra Chairman Waseem Mukhtiar.
This translates to an estimated additional burden of Rs42 billion on consumers nationwide in February in terms of monthly fuel adjustment. The decision came after a hearing on the Central Power Purchasing Agency's (CPPA) request, seeking the price hike to cover rising fuel costs.
According to CPPA, the reference fuel price for December was set at Rs5.40 per unit, significantly higher than the average cost per unit of Rs11 in December. NEPRA has granted preliminary approval to CPPA's request, but a final decision will be issued after further data analysis.
This potential price hike comes on the heels of several recent increases, further straining household budgets and stoking public anxieties.
NEPRA's final decision, expected soon, will be keenly awaited by millions of electricity consumers across Pakistan.