“Captive Power Plant/Unit means an industrial undertaking/unit carrying out the activity of power production [with or without co-generation] for self-consumption and/or for sale of surplus power to a distribution company or bulk-power consumer,” OGRA said in a notification on Sunday.

The authority sets the price for captive power at Rs3,500 per mmbtu, up from the previous rate of Rs3,000.

The new gas prices will take effect from February 1, 2025, however, gas prices for residential consumers and other industries will remain unchanged.

The Economic Coordination Committee approved the increase in gas tariffs for captive power plants on Saturday.