Year: 2022

National Electric Power Regulatory Authority (Nepra) on Tuesday disclosed that K-Electric’s (KE’s) own average power generation is over 300 per cent costlier at Rs 37.74 per unit as compared to Rs 10 per unit of CPPA-G. These statistics were shared by the regulator at a public hearing held to determine financial impact of Fuel Charges Adjustment (FCA) for September 2022. KE had sought negative adjustment of Rs 4.622 per unit to refund Rs 7.740 billion to its consumers on the basis of reference price of June 2022 verses September 2022.…

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Central Power Purchasing Agency –Guaranteed (CPPA-G) has shown willingness to renegotiate forced outage during conversion of imported coal-fired power plant of Port Qasim Electric Power Co. Ltd (PQEPCL) on ten percent blending of Thar coal, sources in PPIB told Business Recorder. CPPA-G conveyed this stance to PPIB, seeking amendment in the minutes of PPIB meeting held on early this month. According to the PPIB, a technical feasibility study was conducted by M/s Fitchner GmbH & Co. KG on conversion of three imported coal power plants, which was shared with all…

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Copper prices slipped on Tuesday as the market focused on slowing growth and demand around the world, though some price support was provided by low stock levels in warehouses registered with the London Metal Exchange (LME). Benchmark copper on the was down 1.4% at $7,451 a tonne by 0938 GMT. Prices of the metal used by investors as a gauge of economic health have dropped 30% since hitting a record peak of $10,845 in March. Citi analysts expect copper to fall to $6,200 a tonne in the next three months,…

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The Supreme Court on Tuesday issued notices to Barrick Gold Corporation (BGC), Balochistan government, Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Company and others on the presidential reference regarding Reko Diq. A five-member larger bench of the apex court headed by Chief Justice Umar Ata Bandial and comprising Justice Jamal Khan Mandokhail, Justice Aijazul Ahsan, Justice Munib Akhtar and Justice Yahya Afridi heard the presidential reference. President Arif Alvi, on the advice of Prime Minister Shehbaz Sharif, had filed a reference in the Supreme Court to get validation…

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Saudi Arabia’s energy minister Prince Abdulaziz bin Salman said on Tuesday some countries were using their emergency stocks to manipulate markets when their purpose should be to mitigate any shortages of supply. The comment appeared to be a criticism of U.S. President Joe Biden’s decision to sell oil from the nation’s emergency oil reserve as he tries to lower gasoline prices ahead of mid-term elections on Nov. 8. “It is my profound duty to make clear to the world that losing (releasing) emergency stocks may be painful in the months…

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