Govt slashes buyback rate for net metering electricity to Rs10/unit

The Economic Coordination Committee (ECC) has approved amendments to net metering regulations, reducing the buyback rate for net metering consumers to Rs10 per unit from Rs27 per unit.

The decision aims to balance the financial impact of solar energy adoption on grid users.

According to the ECC statement, the National Electric Power Regulatory Authority (NEPRA) will now have the authority to periodically review purchase rates.

However, the new amendments will not apply to existing net metering consumers.

Under the revised system, electricity import and export units will be billed separately.

The number of net metering consumers in Pakistan has reached 283,000, reflecting a rapid shift towards solar energy.

The report highlighted that solar net metering users have shifted a financial burden of Rs159 billion onto grid consumers, a figure expected to escalate to Rs4.24 trillion by 2034.

The ECC statement further revealed that 80 per cent of net metering users are concentrated in nine major cities, which has raised concerns over the uneven distribution of benefits.

Officials emphasised the need for reforms in the net metering system to stabilise electricity prices and ensure a fair distribution of costs among consumers.

Meanwhile, the ECC has issued an export clearance for 10,000 tonnes of potassium sulfate fertiliser from Gwadar Port’s Free Zone.

A company operating within the Gwadar Free Zone has been granted permission to handle the export. The decision is expected to enhance trade activity at Gwadar Port and boost the country’s fertiliser exports.

The ECC meeting, chaired by Federal Finance Minister Muhammad Aurangzeb, also addressed several key financial matters.

The Interior Ministry has been directed to seek legal advice on a gold-related case while also providing an explanation for delays under the Customs Reward Rules 2012.