K-Electric seeks hike in power tariff

ISLAMABAD: Karachiites would likely to bear grave financial blow as K-Electric has sought from the National Electric Power Regulatory Authorit0y (NEPRA) to approve enormous hike in the power tariff on account of monthly fuel price adjustment mechanism. Official sources informed Daily Times power sector regulatory authority NEPRA will hold public hearing to know the opinions of public/stakeholders on May 28 in Karachi over a plea of K-Electric seeking increase in power tariff under the head monthly fuel charges adjustment of November, December 2013, January, February and March 2014 as well as adjustments for the quarter October-December 2013 and January-March 2014.  They also told K-Electric has asked to jack up power tariff by 49 paisa per unit for November, 04 paisa for December 2013 and Rs 1.39/unit for January, 31 paisa for February and 94 paisa for March 2014. K-Electric has asked NEPRA to allow fleecing of hapless power consumers by approving fuel charges adjustments, a senior official at Water and Power Ministry said. He said privately owned power firm K-Electric has sought collection of additional Rs3 billion and Rs 230 million from its consumers under the head fuel charges adjustment mechanism already implemented in the country to adjust monthly fuel cost variation faced by the power firm. Available document disclosed to this scribe cost of power generation to K-Electric in November was Rs 563 million, Rs 43.10 million for December, 2013, while Rs 1.35 billion for January, Rs 296 million for February and Rs 1.57 billion additional cost for March 2014.

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