Islamabad: (RightNow) Electricity prices are expected to increase by Rs 2.56 per unit. This hike could impose an additional burden of Rs 32.7 billion on consumers.

A hearing was held at NEPRA regarding the request for an electricity price increase. CPPA officials stated that the global market has seen a rise in RLNG and other fuel prices. Coal prices have also increased by $15 per ton.

According to officials, the price of RLNG spot cargos has reached $28 per MMBTU. Due to high bids, the purchase of LNG spot cargos has been canceled.

A bid of $27 per MMBTU was received for spot cargos. Including other charges, the cost reached $33. The increase in fuel costs has led to the request for a rise in electricity prices.

It is noteworthy that CPPA has filed a request to increase electricity prices under the September monthly fuel adjustment. If approved, consumers will face an additional burden of Rs 32.7 billion.