Electricity price to rise from March Electricity Price
Photo: Pixabay/Ashraf Chemban Representational image

Electricity price to rise from March

Bangladesh Live News | @banglalivenews | 27 Feb 2024, 05:39 pm

Dhaka, Feb 27: The government has decided to increase the price of electricity at the consumer level. This new price will be effective from March.

At the consumer level, the cost of electricity per unit may increase by 34 to 70 paise. State Minister for Power, Energy and Mineral Resources Nasrul Hamid shared this information while talking to reporters at the secretariat on Tuesday (February 27).

Nasrul Hamid said that the price of electricity at the consumer level is increasing by 34 paise per unit. However, he said that the price may increase by up to 70 paise for those who use more electricity.

The state minister said that electricity is sold at a lower price than the cost of production. Prices are being adjusted to meet the shortage. The prices will be adjusted in a phased manner over the next three years.

Nasrul Hamid said, "We spend Tk 12 per unit to produce electricity. And at the consumer level, the lowest price of electricity is Tk 4 per unit, and at the upper end this price is Tk 7. We have now increased the price by an average of 34 paisa per unit. It is very small in quantity.”

Pointing out that the price of electricity mainly depends on the price of the fuel used in production, he said, "Now we are producing more electricity from coal-based power plants. When we brought coal-fired power plants into production, the price of coal and the value of the dollar changed a lot. The dollar has increased by around Tk 40.”

The last executive order on January 30, 2023 increased the price of electricity.