In a significant move, the government has increased the price of gas utilized in power generation by Tk0.75 per cubic meter, simultaneously implementing the same rate hike for gas used in captive electricity production within factories. The Energy and Mineral Resources Division issued a notification on Tuesday afternoon, outlining the adjustments in gas pricing.
Effective from February, consumers will experience the new gas prices reflected in their March bills. As per the notification, public and private power plants, including rental ones, will now pay Tk14.75 instead of Tk14 per cubic meter, while captive, small, and commercial power plants will pay Tk30.75 instead of Tk30 per cubic meter.
This announcement follows State Minister for Power, Energy, and Mineral Resources Nasrul Hamid’s statement on Tuesday, indicating an upcoming increase in electricity prices from the first week of March. The minister made this disclosure at his office in the Secretariat.
Addressing the gas price adjustment, the state minister highlighted that any international market fluctuations affecting gas prices would be reflected domestically. This adjustment is also slated to take effect from the first week of March.
The Energy and Mineral Resources Division determined the new prices through an administrative order, leveraging the recent amendment to the Bangladesh Energy Regulatory Commission (BERC) Act. This amendment empowers the government to independently set energy prices, bypassing the regulator’s jurisdiction as needed.
It is noteworthy that gas prices for these consumers were last adjusted on January 18, 2023, with the changes taking effect from February 1, 2023.
