In the plethora of bad news, there is good news for the citizens of Pakistan that Electricity is Likely to Get Cheaper in June 2021. The decision to lower the price of electricity by 84 paise per unit will be taken on June 2, 2021. The Central Power Purchasing Company has applied to NEPRA in this regard.
Some of the major reasons why Electricity is Likely to Get Cheaper in June 2021
The request for reducing the price of electricity has been made in the context of fuel adjustment. NEPRA took a decision regarding the reduction of electricity on June 2.
Another good news for the citizens is that Hamad Azhar, the Federal Minister for Energy, has said that the news of an increase in electricity price is baseless. He informed that the federal cabinet has not approved the increase in electricity price on the recommendation of NEPRA.
While explaining the situation, the federal minister said that the quarterly tariff adjustment in electricity bills will come to an end in October, adding that there hasn’t been any increase in electricity prices. The new tariff adjustment will be reduced from one rupee 72 paise to only eight paise.
Hamad Azhar informed the media that despite the recommendation of NEPRA, the federal cabinet did not approve the increase in the price of electricity. He said that one quarterly tariff adjustment of electricity is being released in October which will be replaced by another quarterly tariff adjustment that will increase the price of electricity by 8 paise per unit only instead of Rs 1.72. Service providers often offer lower rates to electricity placed and received during off-peak hours. Depending on your consumption habits, this means you can choose a potential for off-peak hours and another power for peak hours.
Hamad Azhar was clearing the air of many misunderstandings that the Federal Government is approving to increase the price of electricity by Rs 1.72 per unit. The federal cabinet approved the summary through circulation that the price of electricity will be increased by 3 different quarterly adjustments.
It was approved that the price of electricity will increase by 82 paise per unit in the fourth quarter under these adjustments. For the first and second quarter adjustments, the price will be increased by 90 paise per unit. This increase in electricity prices will be implemented from October 2021. Click here to see more. Compared to variable rate tariffs, they are usually cheaper, and they come with the guarantee that the price per unit of energy you use during the term – usually 12 months, sometimes 24 – will remain the same. Additionally, the division has conceded that “more than 70pc of circular debt was due to pending policy decisions”. The cheapest hours to use power in will be from midnight to 8 am.