Electricity prices hiked again
BI Report || BusinessInsider
Representational photo
Just within a span of 20 days, the government again has increased the electricity price by 5 percent at retail and wholesale levels to be effective from Wednesday.
The Power Division issued two separate gazette notifications in this regard on Tuesday.
The government increased the electricity price in light of an executive order that allows it to adjust the prices of gas and electricity without holding public hearings.
At a time when the citizens are bearing an abnormal burden of the price spiral of all essential commodities, the new electricity price will hurt the consumers immensely.
According to the new rate, the tariff was raised for lower-level consumers by an average of 5 percent to Tk 4.14 per unit (each kilowatt hour) from Tk 3.94 per unit.
Besides, the bulk tariff was raised by 8.06 percent to Tk 6.70 from Tk 6.20 per unit and both the new rates will be effective from Wednesday, according to the gazette notifications.
The distribution companies will purchase electricity at an increased rate of Tk 0.50 per unit from the Bangladesh Power Development Board (BPDB) and the retail consumers will have to pay an increased rate for consuming the electricity.
Earlier on January 12, the government raised the electricity tariff by 5 percent at the retail level with effect from January 1.
On November 21, the bulk power tariff was hiked by 20 percent to Tk 6.20 per kilowatt hour by Bangladesh Energy Regulatory Commission (BERC) with effect from December 1.
The government recently amended the BERC Act empowering the Power Division to raise power, gas and petroleum fuel by administrative power any time it wants.
that amended Act, the new gazette notification was issued on January 30 to raise the electricity tariff at bulk and retail levels, bypassing the authorities of the energy regulator.
The government came up with the decision in compliance with the conditions imposed by the International Monetary Fund (IMF) that approved Bangladesh's $4.7 billion loan proposal during a board meeting on Monday.
