ISLAMABAD: The Economic Coordination Committee (ECC) on Thursday approved amendments to the existing net-metering regulations to reduce the growing financial burden on grid consumers and slashed the buyback tariff to Rs10 per unit.
In a meeting with the International Monetary Fund last week, the government had briefed the Fund on plans to slash solar net-metering tariffs from Rs26/unit to Rs10, raising concerns about the impact on consumers shifting to off-grid solutions.
According to a press release issued by the Finance Division today, the ECC revised the buyback rate from the national average power purchase price to Rs10 per unit,
It said that the committee had approved the proposal, subject to the cabinet’s approval, to allow the National Electric Power Regulatory Authority (Nepra) to revise this buyback rate periodically, ensuring that the framework remained flexible and aligned with evolving market conditions.
According to media, the decision taken followed extensive discussions on the growing impact of solar net-metering on the national power grid.
The Power Division highlighted the pressing need for regulatory adjustments, citing a record decline in solar panel prices that led to a sharp increase in the number of solar net-metering consumers.
However, the press release clarified that the revised framework would not apply to existing net-metered consumers with a valid license, concurrence, or agreement under the Nepra (Alternative & Renewable Energy) distributed generation and net metering regulations, 2015.
Any such agreements would remain effective until the expiration of the license or agreement, whichever occurred first, ensuring the rights and obligations of consumers, including agreed-upon rates, would continue as per the existing terms.
