Year: 2021

The longer the prices for natural gas remain at record high levels in Europe this year, the stronger the markets feel that Russian gas should not be seen as a quick fix to the problem, at least not before this winter ends. “Overall gas production in Russia over the three quarters of 2021 was 12 percent and 2.6 percent higher than a year ago and in 2019. But it was not adequate to raise the supply to the EU immediately,” analysts at Bloomberg NEF said in a note dated Oct.…

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Sui Northern Gas Pipelines Ltd (SNGPL) has sought 150 percent hike in gas price. The petition of gas utility in connection with review of its estimated revenue requirement for FY 2021-22 was discussed here at a hearing organised by the Oil and Gas Regulatory Authority (Ogra) on Wednesday. SNGPL has filed a petition for increase in the prescribed price by Rs269 per MMBTU for the year 2021-22 and if previous years’ shortfall, already determined, is included, the requirement increases to Rs 907 per MMBTU. Hence, present tariff of Rs 638.74…

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The Sahiwal coal-fired power plant is unique in many ways. It has been established on the most fertile land of the country just a few miles away from Lahore. Coal is imported from South Africa and Indonesia which is unloaded at the Karachi port, and then transported through rail to the site. It is burnt to produce steam which generates 1320 Megawatt (2x 660) of power while polluting the air and producing mounds of Ash that are heaped there. 1700 Acres of prime private land was acquired against the wishes…

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Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday said power sector circular debt has become a threat to the economy. It has increased rapidly to Rs2.5 trillion and the only way to resolve the issue is to compromise political interests, he said. Mian Zahid Hussain said that all the steps taken to reduce the debt over the last several years have not reduced the debt, but it has increased the burden on the people…

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In a new record, the National Electric Power Regulatory Authority (Nepra) on Tuesday firmed up charging an additional Rs4.74 per unit fuel cost to consumers for electricity they consumed in October so that ex-Wapda distribution companies (Discos) could mop up additional revenue of Rs60 billion in December. This was concluded at public hearing presided over by Nepra Chairman Tauseef H. Farooqui at the request of the Central Power Purchasing Agency (CPPA) which demanded that Discos should be allowed to charge Rs4.75 per unit additional fuel cost to consumers to raise…

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