The National Electric Power Regulatory Authority (Nepra) has issued a notification announcing an increase in electricity prices as part of the quarterly adjustment for the current financial year.

The price hike is set to impact consumers over the next three months.

According to the notification, electricity prices will rise by Rs1.90 per unit for the month of June. For the months of July and August, there will be an increase of 93 paisas per unit. This adjustment means that consumers will experience higher electricity bills during the period of June to August 2024.

The price hike will impose a burden of more than Rs46 billion on power consumers, which would be applicable to K-Electric consumers also. An increase of Rs3.28 has also been approved for electric vehicles charging stations.

The increase is part of the third quarter adjustment, a routine procedure that aligns electricity prices with the changing costs of power production and distribution. Nepra had previously sent the decision to the federal government for approval before issuing the official notification.

The additional collections from consumers, which will be implemented over the summer months, are aimed at covering the increased costs incurred by electricity providers.

Amid rising inflation, electricity consumers in Pakistan have faced another financial blow as Nepra approved a significant increase in electricity prices on June 1. The hike ranged from Rs1.90 to Rs3.28 per unit, adding to the financial burden of households and businesses alike.

The authority forwarded its decision to the government, citing the need for a quarterly adjustment as the primary reason for the price hike. This increase would impact electricity bills during the peak summer season when consumption is typically high.