ISLAMABAD (Dunya News) - Federal Minister for Energy Sardar Awais Ahmed Khan Leghari said on Monday that prices of electricity smart meters have been reduced by up to 40 percent, bringing major relief to consumers.
In a statement, the minister said timely and effective measures, along with improved transparency and a competitive process, have helped bring down the cost of smart meters for power distribution companies. He added that the reduction in prices will lead to annual savings of around Rs150 billion at the national level.
Awais Leghari said the price of a three-phase smart meter has dropped from Rs45,000 to Rs25,000, while the cost of a single-phase meter has been reduced by Rs7,000. He noted that better planning and policy decisions also led to positive changes in the regulations of the Pakistan Engineering Council.
The minister said international companies actively participated in the competitive bidding process after hurdles were removed, adding that constant monitoring and clear standards for smart meters helped bring prices down. He said the estimated annual savings of Rs150 billion are being linked to the replacement of faulty and outdated meters by power distribution companies.
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He said electricity consumers will also save billions of rupees, as the cost of new connections and demand notices will be reduced. According to the minister, smart meters will help eliminate wrong meter readings and allow quick detection of electricity theft.
Highlighting the benefits, Awais Leghari said smart meters offer prepaid options, real-time monitoring, detailed usage information, quicker power restoration without the need for a lineman, and several other advantages, adding that the initiative is a step in the right direction and a win-win situation for both consumers and the power sector.