ISLAMABAD: The federal government has reduced the buyback rate of solar rooftop consumers to Rs10 per unit from Rs27 per unit “in a bid to reduce financial burden on grid consumers”, according to an official statemen issued by the Finance Division on Thursday.
The development as the Economic Coordination Committee (ECC) met under the chairmanship of Finance Minister Muhammad Aurangzeb, and approved a set of amendments to the existing net-metering regulations aimed at reducing the growing financial burden on grid consumers, according to the statement.
The decision comes in light of a significant increase in the number of solar net-metering consumers, with associated financial implications for grid consumers, it added.
“As part of the approved changes, the ECC has revised the buyback rate from the National Average Power Purchase Price (NAPP) to Rs10 per unit.”
It was clarified, however, that the revised framework will not apply to existing net-metered consumers “who have a valid license, concurrence, or agreement under the Nepra (Alternative & Renewable Energy) Distributed Generation and Net Metering Regulations, 2015”.
"Any such agreements will remain effective until the expiration of the license or agreement, whichever occurs first. This ensures that the rights and obligations of these consumers, including agreed-upon rates, will continue as per the existing terms," read the statement.
This is a developing story and is being updated with further details.
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