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The Central Power Purchasing Agency (CPPA) has recently filed a request with the National Electric Power Regulatory Authority (NEPRA), proposing an increase in the monthly fuel adjustment starting from January’s prices, sparking concerns about potential hikes in electricity rates. In February alone, CPPA reported generating 9.014 billion units of electricity and supplying 8.762 billion to power companies. The cost per unit stood at Rs 12.17 in January, with the reference cost set at Rs 10.39 during that month. In line with this, CPPA is now requesting an increase of Rs 1.78 per unit for one month.
NEPRA is scheduled to review and make a decision on this request by February 26th. Concurrently, the Lahore High Court (LHC) has called upon the federal government to provide detailed documentation regarding its mechanism for determining petroleum product prices. This came after the LHC issued an order in a miscellaneous petition filed by the Judicial Activism Panel challenging recent fuel price hikes.
During the hearing, Justice Khalid Ishaq directed the government to outline the complete methodology behind these pricing decisions and permitted the court to scrutinize the rationale and procedures for the increased costs. Subsequently, notices were sent to relevant parties, who have been instructed to submit detailed responses at their next scheduled meeting.
Recently, the federal government raised the price of petrol by Rs 5, elevating it to Rs 258.17 per liter. The increase in high-speed diesel was even more significant, with prices jumping by Rs 7.32, reaching Rs 275.70 per liter for the coming fortnight.
As these developments unfold, there’s growing concern among both consumers and industry stakeholders regarding the future trajectory of electricity and petroleum product prices. The CPPA’s request to NEPRA, coupled with the LHC’s demands from the government, highlight ongoing discussions in Pakistan’s power sector aimed at addressing rising costs and ensuring stability.