In some good news, the price of electricity is likely to become cheap by Rs1.1 per unit for a month.
The Central Power Purchasing Agency (CPPA) has submitted an application to the National Electric Power Regulatory Authority (NEPRA) seeking the reduction in electricity prices for October.
The application, filed for the October fuel price adjustment, highlights that the cost of electricity generation was significantly lower than initially estimated.
NEPRA is set to hold a hearing on the application on November 26, where the final decision will be made.
The CPPA reported that 9.98 billion units of electricity were sold in October. The fuel cost per unit of electricity generation was recorded at Rs9.26, significantly lower than the estimated Rs10.27 per unit. This reduction in fuel costs is the main factor behind the proposed decrease in electricity prices.
The decision will not apply to customers of K-Electric.
The reduction in electricity prices comes as a relief to consumers amid rising costs of living, with hopes that it will alleviate some of the financial pressure on households and businesses across the country.
