Month: May 2022

PD asked to clear KE’s TDS claims

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Ministry of Finance (MoF) has urged the Power Division to clear Tariff Differential Subsidy (TDS) claims with all codal formalities in place to avoid late payment surcharge (LPS) and other issues of Karachi Electric (KE). According to Finance Ministry, for the CFY 2021-22, Rs.56 billion has been earmarked on account of Tariff Differential Subsidy (TDS) KE under Power Division’s demand, whereas Rs.5.138 billion has been additionally provided to KE under the Prime Minister’s Relief Package of Rs.5/kWh, totalling Rs.61.138 billion. An amount of Rs.15.620 billion has been released by Power…

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Chinese IPPs warn of closure if not paid Rs300bn

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powertariffs

With more than Rs300 billion in stuck up dues, more than two dozen Chinese firms operating in Pakistan on Monday said that they would be forced to shut down their power plants this month unless payments were made upfront. This was the overwhelming theme of a meeting presided over by Minister for Planning and Development Ahsan Iqbal with more than 30 Chinese companies operating under the flagship multi-billion-dollar China-Pakistan Economic Corridor (CPEC) in various areas including energy, communication, railways and others. There was a plethora of complaints, including those relating…

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Bidding for 11GW of solar, wind power capacity

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solar-wind

A new World Bank study based on current projections says Pakistan needs to carry out competitive bidding for more than 11 gigawatts (GW) of solar and wind power capacity between now and 2028 to ensure that future procurement of variable renewable energy is carried out strategically, transparently, and at least-cost. Unfortunately, competitive bidding for new power capacity in Pakistan has yet to be implemented, delaying the expected benefits to consumers in terms of lower generation costs and the much-needed transition to a more secure, sustainable and affordable electricity sector, the…

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Oil Is Here To Stay, But We Can Reduce Its Emissions

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Low-carbon oil seems pivotal to the future of fossil fuel production as it becomes clear that the world is still highly dependent on crude. Working to fill the gap left by Russia, countries and oil firms around the world are increasing their oil production and long-term output plans. But to achieve ambitious carbon emissions promises, low-carbon oil will be necessary. Several international oil majors have announced plans to shift their fossil fuel production to low-carbon oil, alongside natural gas, in the coming years as they strive to reduce carbon emissions…

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Energy crisis: LNG terminal operators set to ink long contracts

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With Federal Minister for Power Division and State Minister for Petroleum Affairs in place, the government, headed by Shehbaz Sharif, has carved out a plan to wriggle the country out of the energy crisis under which the LNG terminal operators would be allowed to utilize their excess capacity for importing more LNG and would be permitted to ink long LNG supply agreements on BtB (business to business) basis. And more importantly, some of the underutilized capacity of 600mmcfd that the government has purchased in PGPL terminal will be doled out…

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