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ISLAMABAD: National Electric Power Regulatory Authority (Nepra) has increased basic power tariff of hydel power by 49 per cent from Rs 2.12 per unit to Rs 3.15 per unit. However, payment of NHP to provinces and AJK has slashed, resulting in reduction is overall impact on tariff by Rs 1.65 per unit.

Previous average rate for FY 2018 was Rs 5.67 per unit which includes Rs 3.55 per unit NHP/ hydel levies which has now been reduced to Rs 4.11 per unit including Re 0.96 per unit NHP/ hydel levies.

Initially, Nepra had sought increase of Rs 1.65 per unit to Rs 7.32 per unit from Rs 5.67 per unit, but later on, the claim was revised down to Rs 6.20 per unit.

According to the tariff petition, Wapda is undertaking different hydropower projects, due to which its revenue requirements were determined at Rs 71.349 billion for 2017-18 which have now increased to Rs 143.525 billion in 2020-21, showing a hike of Rs 72.176 billion.

Of this, O&M cost has been estimated to be Rs 18.126 billion in 2020-21, depreciation- Rs 7.656 billion, Sukuk bonds repayment- Rs 1.690 billion, Return on Investment (RoI) power stations- Rs 29.543 billion, RoI on power projects - 23.294 billion and other income - Rs 698 million and regulatory revenue gap- Rs 52.891 billion.

Wapda’s estimated generation which was 33,598 GWh in 2017-18 has declined to 30,140 GWh. However, its average rate of cost of generation has been increased to Rs 4.7 per unit in 2020-21 from Rs 2.12 per unit in 2017-18.

Wapda, in its tariff petition has further claimed that its total regular hydel levies have increased by Rs 3.765 billion to Rs 36.659 billion in 2020-21 from Rs 32.894 billion 2017-18.

The organisation’s arrears of Net Hydel Profit (regular + arrears) have decreased by Rs 76.037 billion to Rs 43.058 billion in 2020-21 from Rs 119.156 billion in 2017-18.

With reduction in NHP, the average rate of hydel levies of Rs 3.55 per unit has been slashed to Rs 1.43 per unit.

Wapda has to pay Rs 21.825 billion to KP as NHP, followed by Punjab- Rs 10.002 billion, AJ&K (WUC)- Rs 5.753 billion whereas Rs 151 million will be paid to IRSA.

Copyright Business Recorder, 2021

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