Nationwide electricity price cut by Rs. 1.55 per unit – major relief for consumers

Pakistan, May 9 — In a significant move aimed at providing relief to consumers, the National Electric Power Regulatory Authority (NEPRA) has announced a reduction of Rs. 1.55 per unit in electricity prices across the country. The price cut is applicable for the third quarter of the fiscal year under an adjustment plan.

As stated in NEPRA’s communication, the price cut will be implemented over a period of three months, spanning from May through July, which will advantage customers across the country, even those residing in Karachi. This decrease is expected to offer overall savings of around Rs. 52.6 billion to individuals who pay for electricity usage.

This modification stems from the updates in fuel prices during the fiscal year’s third quarter, leading to a decrease in the unit rate of electricity costs by Rs. 1.55 for the mentioned duration.

Residents of Karachi will see savings in their May bills due to a decrease of Rs. 3.64 per unit following the fuel price revision in February. This discount, however, won’t apply to lifeline consumers. Furthermore, the fuel pricing update for March has taken effect, leading to a drop of Rs. 0.28 per unit.

This reduction marks a welcome development for consumers, as it comes at a time when energy prices have been a significant financial burden for many households. The government hopes that this price cut will provide some relief amidst the broader economic challenges facing the country.