Month: June 2020

According to a report by the Institute of Energy Economics and Financial Analysis (IEEFA), Pakistan is faced with the increasing financial burden of power capacity payments and overcapacity risk at a time when renewables are the cheapest source of energy available. Even before the COVID-19 pandemic, Pakistan’s electricity demand was decreasing. Two more Chinese-financed coal-fired plants have reached financial close so far in 2020, with more in more in the pipeline intended to meet the overestimated demand growth projections.Report author Simon Nicholas at the IEEFA says the government needs to…

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ISLAMABAD: The National Electric Power Regulatory (Nepra) has decided to expose all those power Distribution Companies (Discos) which are unleashing load shedding despite receiving due allocated quota of electricity. On Friday, the regulator took serious notice of various media reports regarding unscheduled load shedding of up to 12 hours by all the Discos, due to which the public is suffering heavily in this current wave of heat, especially in the areas under lockdown due to COVID-19. According to Nepra, Discos under the relevant provisions of their licences are obligated to…

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Pakistan’s Energas is set to start LNG import from July 2020. In an interview with Bloomberg, Energas CEO Anser Ahmed Khan revealed that the group is in talks with the government for a marketing license in order to start the import of LNG in July. According to available details, Energas wants to use Pakistan government’s idle capacity until the construction of its LNG terminal, which is supported by Exxon Mobil. The government has underutilized the second LNG terminal by 70% in the past three months due to lower demand but…

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June 26, 2020 (MLN): The approval from SECP for requested extension of 90 days for making Public Announcement of Offer by Shanghai Electric Company (Acquirer) to acquire 66.4 percent shares of K-Electric Limited will lapse as of June 26, 2020, on the basis that certain regulatory and other approvals for the Transaction remain outstanding. Arif Habib Limited, the Manager to the offer for this acquisition, made an announcement that as of the expiry date, June 26, 2020, the PoI stands withdrawn. However, in a notification to PSX, Shanghai Electric remain fully…

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The energy ministry on Friday dismissed K-Electric’s (KE) claims attributing prolonged power outages in Karachi to a shortage of furnace oil in the market, saying the power utility’s system constraints were a major hurdle in resolving the issue. It is unfortunate to note that KE didn’t invest in upgrading their systems due to which it is facing difficulties at a time of peak demand, a spokesperson for the energy ministry said in a statement. “The federal government is ready to extend all available support for the provision of uninterrupted power supply to…

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