The National Electric Power Regulatory Authority (NEPRA) on Thursday fined the National Grid Company and the Central Power Purchasing Agency (CPPA) Rs60 million under the fuel adjustment for the month of January, 2024.
The company was fined Rs50 million, while the CPPA Rs10 million.
Both were ordered to pay the fine within 15 days.
In its decision, the NEPRA said that the average per unit cost of fuel in January 2024 stood at Rs14.60, while the CPPA had requested an increase by Rs7.13 per unit under the monthly adjustment.
The price of electricity in January 2024, the verdict read, was increased by Rs5 per unit, and that NEPRA had even ordered an investigation to ascertain the reasons for such a massive hike.
The NEPRA further said that during the month under review, electricity was produced with furnace oil and diesel at much higher rates, totaling Rs31.23 billion and means of producing electricity at cheaper rates were largely ignored.
In this connection, the Authority went on to say, the CPPA was issued a show-cause notice. “But the latter failed to satisfy.”
