State Minister for Power, Energy, and Mineral Resources Nasrul Hamid suggested that electricity prices may see another increase this year. He cited ongoing losses for power distribution companies due to fluctuations in the dollar exchange rate, which has risen from Tk 85 to Tk 117.
Speaking at a post-budget press conference at the Secretariat on Thursday, Hamid indicated plans to adjust electricity prices three to four times annually to eliminate subsidies. "We've already made two adjustments and have a plan pending government approval," he explained.
Hamid also announced significant updates on energy supply, assuring that gas interruptions will cease by mid-July, with noticeable improvements in electricity availability within the next three to four days.
Addressing recent challenges in gas supply, Hamid attributed them to decreased production in industrial plants and subsequent load shedding, particularly affecting rural areas.
"The situation is now under control," Hamid reassured. "We anticipate uninterrupted gas supply by July 15–16, and electricity conditions will markedly improve within the coming days."
Highlighting recent developments, Hamid mentioned the commissioning of the Payra power plant, which has already resumed supplying electricity, alongside contributions from Adani Group to bolster the national grid.
He also acknowledged the economic strain on distribution companies, exacerbated by fluctuations in the dollar exchange rate, leading to a disparity between electricity production costs and retail prices.
Hamid expressed optimism that the power situation would stabilise within a few weeks, noting repairs to a damaged FSRU (Floating Storage and Regasification Unit) following Cyclone Remal, with production expected to resume by mid-July.
He further said that an agreement will be signed at the end of July to import 40 MW of electricity from Nepal using India's national grid.
The electricity that the
government will import from Nepal will cost more than Tk 8 per kilowatt.
The advantage is that electricity will be available at the same rate for 20 years.
