NEPRA approves Rs5.72 per unit electricity tariff hike

The National Electric Power Regulatory Authority (NEPRA) has recently given the green light to a Rs5.72 per unit increase in the base tariff for electricity for the fiscal year 2024-25. This decision is now awaiting final approval from the federal government. If approved, the new base tariff will be effective starting July 1, 2024, raising the average base tariff from Rs29.78 to Rs35.5 per unit.

Under the new tariff, the federal cabinet will have the discretion to decide whether the increase will be implemented all at once or in stages. In the current fiscal year, the base tariff for electricity experienced an increase of up to Rs7.50 per unit, while in the previous fiscal year, it rose by up to Rs7.91 per unit. It is worth noting that for the fiscal year 2023-24, the base tariff increase was immediate, whereas in the fiscal year 2022-23, it was phased over three stages.

The approval of the increase in the base tariff for electricity by NEPRA signifies a significant change in the cost of electricity for consumers. As the federal government considers the final approval, it is essential for consumers to stay informed about these developments and prepare for potential adjustments in their electricity bills. Understanding the reasons behind tariff adjustments and how they impact daily life can empower individuals to make informed decisions regarding their energy consumption and budgeting.