K-Electric Requests Significant Rate Hike, Nepra Hearing on May 9

K-Electric, Karachi’s main power provider, has applied to Nepra for a substantial increase in fuel cost adjustments (FCAs). If approved, consumers could face a Rs18.86 per unit hike for the past seven months. Nepra will review the proposal on May 9.

The request spans from July 2023 to March 2024, with a proposed Rs18.86 per unit increase for the past seven months and a Rs 0.29 decrease for the next two months. If Nepra agrees, consumers could see a total increase of Rs18.57 per unit, impacting electricity bills in Karachi.

Nepra recently allowed power companies, including K-Electric, to collect an extra Rs2.7492 per unit from consumers for three months starting April 2024. This aims to reconcile adjustments, with over Rs85.3 billion already authorized for the second quarter of 2023, excluding K-Electric. Including K-Electric, the total collection could exceed Rs90 billion, with additional taxes like GST adding pressure.

Nepra’s hearing is crucial, allowing stakeholders to scrutinize the proposal’s impact on consumers and industry competitiveness. Transparency and accountability are vital as we navigate energy challenges, ensuring fair and sustainable solutions for all.

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