The process of increasing the wholesale electricity price by executive order, the average rate has been increased by 5 percent from Tk. 6.70 to Tk. 7.04 has been finalized. Sources in the Power Division said that the gazette notification in this regard is at the stage of printing.
The new rate will be effective from the billing month of February, said Minister of State for Power, Energy and Mineral Resources Nasrul Hamid MP. He gave this information to reporters at the secretariat on Thursday (February 29).
The wholesale rate has been increased by 5 percent from Tk. 6.70 to Tk. 7.04. This will reduce the amount of subsidy by Tk. 3000 crore rupees. Bangladesh Power Development Board (BPDB) estimates that about Tk. 36363 crore subsidy will have to be paid even after the price increase.
The State Minister said that the biggest problem has been due to the increase in the price of the dollar. Although the international market price of oil-gas and coal remains the same, it is costing Tk. 40 per dollar more than before. This is where the huge gap is created. We are working to coordinate with the dollar.
He also said that now the average production cost of electricity is Tk. 12 and it is being sold at Tk. 7. We have estimated that Tk. 43000 crore will be given as subsidy for electricity this year. Adjustments will be made gradually over several years. Electricity prices for low-consumption customers will increase less and higher on the upside.
Apart from this, it is known that the process of increasing the prices at the customer level is at the final stage. State Minister Nasrul Hamid said, we are not increasing the price, we are coordinating. If he made a profit, he could have raised the price. Adjustments are being made to reduce losses somewhat. The price of electricity at the consumer level will increase from 34 paisa to a maximum rate of 70 paisa.