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Electricity prices will increase four times a year

by endroar
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In this situation, the IMF delegation wanted to know how and how much the government will reduce the subsidy in the power sector. Electricity prices will be revised four times every year, the electricity department said.

State Minister for Power, Energy and Mineral Resources Nasrul Hamid told reporters last February 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.

As part of this, the government increased the price of electricity once in March. According to PDB sources, the Bangladesh Power Development Board (PDB) incurred a loss of Tk 43,539 crore by selling electricity in the financial year 2022-23. The government has to allocate 39 thousand 534 crores of subsidy in that financial year. The average wholesale price of electricity per unit is 7 taka 4 paisa. However, if the subsidy is withdrawn following the advice of the IMF, this rate will have to be raised above 12 rupees. In that case, the average price of electricity at the consumer level will be around 15 taka, which is now 8 taka 95 paisa.

Earlier, electricity prices were increased three times in three months from January to March last year. Electricity prices have been increased 12 times at the wholesale level and 14 times at the retail level in the last decade and a half.

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