The increase was approved by the Bangladesh Energy Regulatory Commission (BERC) and the decision was announced by its chairman Abdul Jalil on Monday.
The new tariff will take effect from December 1, 2022, Jalil said while announcing the decision at a press conference.
According to the announcement, the retail power tariff was increased from Taka 5.17 to Taka 6.20 per kilowatt-hour unit at the wholesale level.
BERC said it made the decision in response to a review petition filed by the Bangladesh Power Development Board (PDB) to increase the price of electricity at the wholesale level.
The BERC president said that the new price will be effective only for power distribution companies and some other bulk consumers.
He said they may ask for a new public hearing soon on any increase in retail prices.
Although he said the bulk power tariff hike will have no impact on retail prices, experts said the bulk power price hike would likely boost the nation’s inflation rate again.
Inflation in Bangladesh accelerated to 9.52 percent in August, the highest in 10 years, driven mainly by rising food prices, the Bangladesh Bureau of Statistics (BBS) reported. (1 US dollar is equivalent to about 100 taka) ■