The Power Division has put a temporary hold on its much-anticipated net metering tariff rationalization plan, citing public pressure following recent electricity price hikes. Initially set for completion by May 2024, the plan’s deadline has been repeatedly extended, with the latest target date being September 30, 2024.
Sources revealed that the Power Division has informed the Prime Minister’s Office that, given the current sensitivity surrounding the rising tariffs, discussions on the net metering proposal will resume when the time is deemed more appropriate, though no specific date has been set.
The proposal to revise the net metering buyback rate is ready but awaits further reforms and stakeholder consultations. Meanwhile, the Power Division continues its efforts to restructure the National Transmission and Dispatch Company (NTDC) and explore the possibility of introducing a Competitive Electricity Market.