Month: February 2023

Hike in petrol, diesel prices challenged in LHC

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lhc

A petition was filed in the Lahore High Court (LHC) on Thursday seeking reversal of recent increase in prices of petroleum products. The petition has been filed by a citizen named Munir Ahmed through his lawyer Azhar Siddique. He has made the petroleum minister, the Oil and Gas Regulatory Authority (Ogra) and others in the case. The petitioner argued that the increase in petroleum prices was illegal and pleaded the high court to declared the notification issued by the governments to jack up the prices null and void. In an…

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Fixed electricity charges unfair on industries

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powertariffs

The National Electric Power Regulatory Authority (Nepra)’s Maximum Demand Indicator (MDI) initiative that imposes fixed charges for electricity are causing industries to shut down, said the Lahore Chamber of Commerce and Industry (LCCI) on Wednesday. Speaking to the CEO of the Lahore Electric Supply Company (Lesco), LCCI President Kashif Anwar urged the Lesco chief to aid in the immediate removal of MDI fixed charges. “This is affecting the business community very badly, especially those companies which shut down their industrial units or work on a seasonal basis.” “Since Lesco is…

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Lesco selects 100 feeders to produce solar power

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feeders

He said 100 feeders have been selected in this regard with the investment estimate of Rs170 million. He was addressing members of the Lahore Chamber of Commerce and Industry. He said that there are many rumours regarding solar net metering, in which it is being said that the rate of net metering is being reduced but the rate is not being reduced at all. He said that the government is installing solar on all the government buildings and subsidising solar tube-well. Conventional bulb factories are closing down and energy saving…

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Pakistan’s solar planning too rigid and high-cost

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solar-pannel

The Institute for Energy Economics and Financial Analysis (IEEFA) has published analysis warning against specifics of Pakistan’s plans to incentivise gigawatts of solar project development across the country. IEEFA’s commentary, prompted by a recent public hearing concerning one 600 MW solar plant in Muzaffargarh, criticizes the 25-year PPA at a dollar-indexed tariff, calling it reminiscent of Pakistan’s excessively expensive 1990s deals for thermal power plants, and saying it will do nothing to push developers to innovate on price. Per IEEFA, a 14-year PPA – as opposed to 25-year – would…

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One Of The World’s Hottest Oil Plays Prepares For New Auction

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guyana

Guyana, one of the world’s hottest frontier oil plays, is expected to have its new oil production sharing agreement (PSA) model ready in time for its auction that runs through mid-April, according to Guyana’s VP. The oil and gas industry has been eagerly waiting for Guyana to draft new contract terms that have been a long time in coming after Guyana made it clear that oil companies wouldn’t be getting what it considered to be a sweetheart deal like the Exxon consortium did. Guyana expects the new contract model to…

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