Electricity prices increased by 8.5 percent in retail and 5 percent in wholesale Electric Price
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Electricity prices increased by 8.5 percent in retail and 5 percent in wholesale

Bangladesh Live News | @banglalivenews | 01 Mar 2024, 07:36 am

Own representative, Dhaka, 1 March 2024: Electricity prices are increasing by 8.50 percent at the retail level and 5.074 percent at the wholesale level. The new prices are effective from Thursday. State Minister for Power, Energy and Mineral Resources Nasrul Hamid said that the gazette will be issued on Thursday (February 29) with the increase in prices. The state minister told this information to reporters at the secretariat at noon.

He said, "The main thing is the dollar variation in the electricity subsidy. The price of gas is also on the rise. This time the electricity subsidy will be 43 thousand crore rupees. That is why the government has said that the price must be adjusted. We must adjust with the price of fuel. We will gradually for a few years. He said that the price of electricity per unit is increasing by 34 paise on the lower side. It will increase by 70 paise on the upper side. That means it will increase by 5 percent on the lower side. It is like 8 and a half percent on the upper side. At the end of the month, it may increase by 5 to 8 taka per 100 taka. "

"Our production cost per unit of electricity is around Rs 12, due to dollar price fluctuation. It used to be Tk 7 to Tk 8. We are selling at Tk 7 per unit on average. The adjustment is more on the upside, less on the downside."

Regarding the impact due to power price adjustment, he said, experts say there will not be much change. Not much impact.

He said, a notification has been issued by fixing the price of oil at dynamic price. It will come into effect from March 1. And the increase in electricity prices will be implemented from February 1.