Month: June 2022

Windfall Tax To Cost UK-Focused Oil Firms More Than $3 Billion

Admin

The new windfall tax on profits of oil and gas companies in the UK is expected to cost the medium-sized North Sea-focused companies a total of $3.3 billion through 2025, according to investment bank Jefferies. Following months of rumors and indecision, the UK government announced last week a 25% Energy Profits Levy, commonly referred to as a “windfall tax”, as part of a package to ease the cost-of-living crisis stemming from huge rises in household energy bills. The move has long been opposed by the industry, which argued that a windfall…

Read More

84MW Matiltan hydropower project to be completed next year

Admin

Secretary Energy and Electronics Syed Imtiaz Hussain Shah Wednesday said that timely completion of energy projects is a big challenge and Matiltan Hydropower Project 84MW would be completed in 2023. The Department of Energy, through its subsidiary PEDO, is working on several hydropower projects in Swat, of which 37 MW Daral Khuar Power House has been successfully completed, while Matiltan Hydropower Project 84 MW would complete in 2023, 88 MW Gabral Kalam Hydropower Project and 157 MW Madain Hydropower Project would be completed in 2027. With the South Korean government…

Read More

Overdue Receivables

Admin

China Power Hub Generation Company (Private) Limited (CPHGC) has approached Secretary to Prime Minister for resolution of issues of overdue receivables, revolving account and tariff adjustment/true-up. CPHGC is a 2X660MW (1320MW) coal based IPP established under the China Pakistan Economic Corridor (CPEC), located at Hub, Balochistan. The project achieved its Commercial Operations Date (COD) on August 17, 2019. The company is currently going through very critical circumstances, of which overdue receivables is the most serious. The company’s Ren Le Hui, in his letter to Secretary to Prime Minister, stated that…

Read More

K-Electric mulling power outages for industries

Admin
k-electric

K-Electric may consider resuming load-shedding across its consumer network including the industrial zones, and may increase the duration of outages in the already affected areas to help people avoid default on monthly bill payments. “The cost of power production has gone beyond peoples’ affordability,” K-Electric’s Chief Marketing Officer Sadia Dada said while briefing media on Wednesday. “K-Electric may consider power breaks for three to five hours a day in the areas where there is zero load-shedding these days,” she said, adding that the company had kept industrial zones exempted from…

Read More

Power shortfall hits record level of 7,500 MW

Admin

The power shortfall on Wednesday rose to an unprecedented level of 7,500 MW, triggering massive loadshedding of over 10 hours in urban areas and up to 18 hours in rural areas. Despite several claims made by the incumbent government to permanently solve the problem, the duration of power outages are yet to be curtailed. Instead, with every passing day, it seems that deficit in power demand and supply tends to be multiplying. In spite of government’s claims, electricity generation could not be increased beyond the mark of 20,000 MW. Presently,…

Read More