Month: September 2020

Coal-based power generation cheaper than gas and oil by Rs5.60/kWh

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LAHORE: Coal-based power generation is cheaper as compared to gas and oil by Rs5.60/kWh on the basis of plant load factors approved by National Electric Power Regulatory Authority (NEPRA). Anjum Nasim, an energy expert, said that power generation based on natural gas is the least expensive form of power generation followed by coal, RLNG and RFO (oil). Tariffs of natural gas plants, on average, are 11% less expensive than tariffs on coal-based plants while tariffs for RLNG based plants are 36% more expensive than coal-based plants and tariffs on oil/RFO…

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IEEFA Says Pakistan Will Waste Power Plants Under 27-Year Power Generation Plan

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Institute for Energy Economics and Financial Analysis (IEEFA) has raised objections over the 27-year Indicative Generation Capacity Expansion Plan (IGCEP 2020-2047) prepared by the National Transmission and Despatch Company (NTDC). IEEFA has declared the IGCEP 2020-2047 as contradictory to the government’s principles of affordability and sustainability. According to the IEEFA report, Pakistan would end up building more power capacity than its requirement due to over-optimistic energy demand growth forecasts made without taking into account the impact of the Coronavirus pandemic. Overbuilding of power generation capacity would result in the underutilization…

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Portugal’s second PV auction draws world record low bid of $0.0132/kWh

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Although Portugal’s second solar energy auction is not expected to be finalized until tomorrow, financial newspaper Expresso has revealed the 700 MW procurement round secured a world record lowest bid of €0.0112/kWh ($0.0132). If confirmed, that price would be $0.0003 lower than the $0.0135/kWh bid submitted by French energy group EDF and China’s JinkoPower in a 2 GW tender held in Abu Dhabi, which was cofirmed in July. Portugal’s first solar auction, last summer, saw the Directorate General for Energy and Geology allocate 1.15 GW of solar generation capacity – less than the 1.4…

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UK To Review North Sea Oil Licensing Policy

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The UK will review its current licensing policy for oil and gas exploration in the North Sea to have it aligned to the country’s ambition to achieve net-zero emissions by 2050. “The review will ensure the Government has the information needed to plan for future oil and gas production in the UK, in a way that is aligned with tackling climate change,” the UK Department for Business, Energy & Industrial Strategy said in a statement. The UK became last year the first industrialized nation to enshrine the net-zero ambition in a law. The…

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Mexico Shuts The Door To Foreign Oil Companies

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There will be no new exploration and production contracts on the table for private or foreign companies in Mexico under a government plan set to be made public soon. “We don’t expect that there will be anything new in exploration and extraction in this infrastructure plan,” the head of Mexico’s oil industry association AMEXHI told Reuters in an interview. The infrastructure plan is the Mexican government’s attempt to stimulate economic growth, but according to AMEXHI’s head, Merlin Cochran, it will not involve a focus on the energy industry in the form of…

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