The Bangladesh Energy Regulatory Commission (BERC) has hiked retail electricity prices by Tk 0.36 or 5.3 per cent, from Tk 6.77 to Tk 7.13 per unit, making the new rate effective from March 01.
The BERC announced the decision from a media briefing in Dhaka on Thursday after holding a public hearing on a proposed increase in bulk electricity tariff, reports bdnews24.com.
Meanwhile, the BERC increased the wholesale prices of power by 8.4 per cent, from Tk 4.77 to Tk 5.17 per unit.
The cost of power transmission or wheeling charge has also been increased by 5.3 per cent to Tk 0.29 per unit.
The government previously raised retail power prices by Tk 0.35 or 5.3 per cent per unit in November 2017.
As a result, household prices of up to 75 units of electricity went up by Tk 15, 150 units by Tk 48, 250 units by Tk 90, 450 units by Tk 196, and the cost of 1,000 units increased by Tk 604.
Within two months of a hike in gas prices at the end of June last year, power distribution agencies began calling for the bulk power tariff to be raised. A public hearing on the proposals was subsequently held on Nov 28 last year.
At the hearing, the Bangladesh Power Development Board proposed increasing bulk electricity tariff by 23.27 per cent per unit to trim its losses.
Dhaka Power Distribution Company, West Zone Power Distribution Company Ltd, and Northern Electricity Supply Company also submitted proposals to increase retail prices, citing a rise in spending on three areas - operation and manpower, introduction of modern technology and equipment price hike.