After approval from the Federal cabinet under the supervision of Prime Minister of Pakistan, the Government has decided to increase the electricity tariffs which will be implemented immediately. In the evening time, the per unit price for the commercial consumers with the increase of Rs.6 is now Rs.16 per unit and for the industrial consumers the new per unit price with the increase of Rs.5 is now Rs.18 per unit. All these new rates will be implemented immediately.
Now with the increase of electricity prices, the payback or recovery periods for the projects of renewable energy system like solar, wind or biomass etc will now be reduced which is quite attractive for those investors, companies and consultants who are working in the field of Renewable Energy Systems. Those who have already invested in this sector may update their payback analysis which will definitely turn them joyful.
It is natural and interesting to see that on one side the people who are fully dependent on utility electric supply will become irritated and frustrated and on the other side, those who are fully/partially independent from the utility electric supply may feel some sort of relaxing themselves.
As the Government has already cleared to the nation that in the coming years/months they will increase the electricity tariffs further because of the recovery of the circular debt, it is highly recommendable in these years to go for the renewable energy like solar, wind etc because these kinds of decision from the government may help the investors to get the payback as quickly as possible.
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