The National Electric Power Regulatory Authority (Nepra) has approved a Rs1.15 per unit increase for distribution companies (DISCOs). This has shocked the people.
The Nepra notice explained that the increase of Rs 1.15 per unit was approved as part of the quarterly adjustment. Consumers are going to have to pay an extra Rs 22.29 billion because of this change.
The notice has been sent to the government for final approval as of now. It says that the higher energy rates will start on January 1, 2024. As soon as the government approves, customers, including those served by K-Electric, will experience an increase in prices.
For the next three months, until March 2024, the allowed rise will take effect. People are worried about this change because the rising cost of electricity is still putting a strain on family budgets and making economic problems worse.
However, the quarterly adjustment mechanism often raises energy prices every three months, despite its intention to safeguard the financial health of power distribution companies. Consumers are directly responsible for this, which adds to the arguments about how affordable basic services should be.
While waiting for government approval, people must contend with the impending increase in their energy bills, exacerbating their financial woes in an already challenging economy. This decision will have an effect on every part of society. This makes it even more important to find long-term solutions to the problems in the energy industry and make things easier for consumers.