BAKU: Azerbaijan's Tariff Council has announced new domestic electricity tariffs, reflecting changes in production costs and a strategic move to enhance service sustainability. These adjustments, which will take effect on January 2, 2025, are in response to increased natural gas prices impacting electricity production, as reported by APA.

According to Azeri-Press News Agency, the electricity tariff for residential consumers has been structured into three consumption brackets. For usage up to 200 kilowatt-hours (kWh), the price per kWh has risen by 0.4 kopecks, marking a 5% increase from the previous rate of 8 kopecks to 8.4 kopecks. For consumption between 200 to 300 kWh, the tariff has been elevated by 1 kopeck, a 11.1% hike, adjusting from 9 kopecks to 10 kopecks. For those exceeding 300 kWh, the rate has surged by 2 kopecks, a 15.4% increase from 13 kopecks to 15 kopecks. On average, the tariff for 1 kWh of electricity for the population has risen by 0.7 kopecks, a 7.8% increase.

The revised tariffs are expected to impact subscribers differently based on their electricity usage. For 65% of subscribers, monthly expenses are anticipated to rise by 45 kopecks. Meanwhile, 20% of subscribers might see an increase of 1 manat 33 kopecks, and the top 15% of consumers could experience an uplift of 5 manat 61 kopecks.

To cushion the effect on the consumer goods index, tariffs for industrial and agricultural sectors have been adjusted by 0.6 kopecks, a 6% increase from 10 kopecks to 10.6 kopecks per kWh. Additionally, electricity tariffs for charging stations have climbed by 1.5 kopecks, a 13.6% rise from 11 kopecks to 12.5 kopecks per kWh. The pricing for services at these stations will be determined competitively by entrepreneurs.