Electricity prices likely to increase in quarterly adjustment

ISLAMABAD: The electricity prices are likely to increase by 45 paisa as the National Electric Power Regulatory Authority (NEPRA) has heard the request of DISCOs and KE for the first quarterly adjustment.

The power distribution companies have requested an increase in the quarterly adjustment for three months. The hearing was headed by the authority chairman, Wasim Mukhtar.

As per details, the DISCOs have demanded Rs 8.41 billion in the first quarterly adjustment.

The power companies said that the Prime Minister has reduced the price of electricity by Rs 7.41 for three months. “Circular debt is also increasing, and a package for agricultural and industrial consumers has just been announced,” consumers said.

Member Sindh Rafiq Sheikh said that the structure with which the power sector is running, circular debt will not end.

According to industrial consumers, the industry is paying a surcharge of Rs 3.23 on circular debt. Now, the surcharge will continue on circular debt taken from banks again.

Member NEPRA said that as long as the losses and theft of discos do not reduce, and recovery does not improve, then circular debt will continue to increase.

Power Division said that losses have increased due to additional losses and low recovery. NEPRA authority has completed the hearing, and the authority will send a decision to the federal government after reviewing the data.