• ECC slashes solar net-metering buyback rate by almost two-thirds, ends net billing
• Under new framework, consumers to sell at Rs10, buy at Rs42-48 per unit

ISLAMABAD: In yet another knee-jerk reaction to curb renewable energy growth through solar net metering amid high grid electricity costs, the government on Thursday reduced the buyback rate by two-thirds to Rs10 per unit and scrapped net billing.

The decision, applicable to new net-metering consumers, was taken at a meeting of the Economic Coordi­nation Committee (ECC) of the Cabinet, presided over by Finance Minister Muhammad Aurangzeb.

Under the revised policy, power companies will purchase surplus solar electricity from consumers at Rs10 per unit during the day while selling grid electricity at Rs42 per unit (off-peak) and Rs48 per unit (peak) after sunset — excluding taxes and duties.

Additionally, consumers will no longer be allowed to install solar capacity exceeding their sanctioned load, except for a 10 per cent cushion, compared to the 50pc margin permitted under the previous policy.

Existing consumers will gradually come under this new framework as their seven-year contracts expire.

The Power Division justified the........

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