Rising demand spurs price surge for IPS, rechargeable fans in Ctg

The prices of backup electricity sources and battery-run cooling devices, such as IPS (instant power supplies) and rechargeable fans, have increased in Chattogram as people rush to buy them, seeking relief from the scorching heatwave and frequent power outages that have persisted nationwide for over a week.

Over the past month, the prices of rechargeable fans have risen by Tk1,000-Tk2,000 depending on their size and quality, while IPS prices have seen an increase of Tk3,000-Tk5,000, according to customers and traders.

Additionally, IPS batteries have gone up by Tk2,000-Tk5,000, and air conditioners have experienced price hikes of Tk5,000-Tk7,000, they say.

Rifles Club Market, Shah Amanat Market, and CDA Market in Riazuddin Bazar are popular destinations for electronic products in Chattogram city. During a visit to these markets last Monday afternoon, it was observed that nearly every shop was bustling with buyers.

Shamim Ferdous Rifa, a student at a private university, visited Rifles Club to purchase a rechargeable fan. She mentioned that she resides in a small room in the hostel where the heat becomes unbearable.

"When the power goes out, it's challenging to stay in the room. That's why I have come to buy a charger fan," she said.

"However, the medium-quality fans, which were previously priced at Tk4,000-Tk4,500, are now selling for Tk6,000. I checked a few shops, and the price of each fan has increased by Tk1,500-Tk2,000," she added.

Amid the intense heatwave, load shedding has increased in Chattogram, occurring frequently from evening until midnight.

According to the Power Division, Chattogram's peak electricity demand ranges from 1,400MW to 1,500MW. However, the electricity available from the national grid is only around 1,000MW to 1,100MW. Consequently, there is a daily shortage of around 300MW to 400MW of electricity.

Obaidul Haque, owner of Dallas Electric in Rifles Club market, told TBS, "Over the past week, we've been selling 70-80 charger fans per day due to increased load shedding. During Ramadan, this figure was at maximum 20-30 per day. Additionally, we're selling 15-20 IPSs daily."

With the heightened demand, rechargeable fans from various local and foreign brands are being sold in the market for prices ranging from a minimum of Tk4,000 to a maximum of Tk10,000. Depending on the battery capacity, each IPS is priced between Tk20,000 and Tk80,000.

Due to the high demand, these products are also available in shops beyond electronics stores. Additionally, small or medium-sized charger fans can be found in footpath shops too. In the market, there is a notable demand for 14-inch, 16-inch, and 18-inch charger fans. The price of a 12-inch rechargeable fan ranges from Tk4,500 to Tk5,000.

Similarly, various types of IPS are available in the market, with the demand being higher for medium-quality 800-watt to 1200-watt models. The price ranges from Tk20,000 to Tk35,000, depending on the brand, marking an increase of Tk3,000-Tk5,000 compared to last month.

Junayedul Haque, who travelled from Satkania to Chattogram city to purchase an IPS, said, "There is frequent load shedding in our village, sometimes lasting up to five hours a day. My mother, wife, and two children reside there, so I've come to buy an IPS for them."

"However, the IPS that was priced at Tk35,000 a year ago is now Tk40,500," he said, highlighting the sharp increase in price.

He alleged that businessmen are exploiting the situation and burdening ordinary people with higher prices.

Electronics trader Mohammad Ilias from CDA market in Riazuddin Bazar said that they are forced to raise prices due to a wholesale price hike stemming from reduced imports from China and Indonesia.

"Just two years ago, the demand for IPSs was not as high. Now, with increased demand, prices have surged," he said.

He said there is high demand for IPS brands like Luminous, Rahimafrooz, and Extreme.

Shahadat Hossain, another trader in the same market, said, "All the IPSs in my shop were sold out last week. I've sold at least 100 IPSs in the past week alone, but now my shop is out of new products."

In addition to imported IPSs, the demand for locally manufactured IPSs has also surged. Many people are visiting mechanic shops to repair their broken charger fans and IPSs. Consequently, the prices of charger fans and IPS batteries have risen.

In the market, 6-volt batteries for charger fans are now selling for Tk700 to Tk800, while 12-volt batteries are priced at over Tk1,000. Just a month ago, these batteries were available for Tk300 to Tk600.

Meanwhile, in response to the rising prices of electrical products due to increased demand, the Directorate of National Consumer Rights Protection conducted a raid on Rifles Club last Monday. During the operation, three shops were fined a total of Tk55,000 for unauthorised price hikes.

Mohammad Faiz Ullah, deputy director of the Directorate of National Consumer Rights Protection in Chattogram, said that electronics shops were caught during the raid charging extra prices due to the increased demand.