K-Electric seeks massive power tariff hike under fuel price adjustment

K Electric, the power utility serving Karachi, has submitted a request to the National Electric Power Regulatory Authority (Nepra) seeking a nine-month fuel price adjustment.

The application, filed by K Electric, aims to recover fuel costs incurred from July 2023 to March 2024.

According to the details provided in the application, K Electric has petitioned for an extension of eight months regarding the Fuel Cost Adjustment (FCA). Notably, only the FCA for two months is reported to be negative in the application.

The utility company has outlined that the cumulative increase over the seven months amounts to Rs18.86, while it has requested a reduction of 29 paisas for the remaining two months. This request comes amidst ongoing discussions and deliberations regarding the electricity tariffs and pricing structure.

Nepra is scheduled to conduct a hearing on K Electric's application on May 9. Following the hearing, the regulatory authority will deliberate on the application and make a decision regarding the Fuel Cost Adjustment (FCA).

Meanwhile, concerns have been raised about the potential impact of these adjustments on electricity consumers in Karachi, with preparations reportedly underway for potential electricity cuts to consumers in the city.