Month: May 2024

Solar Panel Prices Plummet up to 25% as Imports Solar

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solar-panel

Solar panel prices in Pakistan have seen a significant drop of 15% to 25% due to a surge in imports and an abundance of supply compared to demand. Faisal Bawani, a prominent importer of leading solar panel brands, revealed that prices per watt have decreased by Rs7 to Rs13 over the last four months, thanks to a substantial increase in supply relative to consumption. This influx includes 4GW of solar panels in 2023 and 7.5GW from January to April 2024, leading to historic lows in local market prices, now ranging…

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Scrutiny Mounts Over Coal Imports for Power Plants Amid Pricing Concerns

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New-coal

As electricity affordability impacts demand and consumers look beyond the national grid, the procurement of imported coal for power generation is under scrutiny. Despite overarching policies favoring localization and import substitution, power plants are leaning towards long-term coal imports. This shift, facilitated by streamlined spot imports, has halved coal prices, raising questions about transparency and market dynamics. Former caretaker power minister Muhammad Ali initiated an investigation into coal purchases for the Sahiwal Coal Power Project, though subsequent developments suggest inquiries have stalled. The Central Power Purchasing Agency (CPPA) CEO dismissed…

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The net metering dead end

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LET’S start with putting a couple of undue misapprehensions to rest. I have had the opportunity of interacting with key decision-makers in the power bureaucracy and they assure me of two things. First, solar panels installed in people’s homes are not going to be taxed. Second, the net metering rate at which power utilities buy electricity back from consumers is not going to be revised downward for those who already have their system up and running. They emphasise that changes are being considered in the net metering regulations of 2015, with a…

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CCP Greenlights Merger in Thermal Power Sector

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power-subsidy

The Competition Commission of Pakistan (CCP) has granted approval for a merger within the thermal power sector. The sanctioned transaction involves M/s. Whistler Enterprises (Private) Limited (WEL) acquiring a 20.97% stake in M/s. Orient Power Company (Private) Limited (OPCOL). WEL, a newly established private limited company in Pakistan, specializes in power generation businesses and related services. On the other hand, OPCOL is an independent power producer operating a 225-MW power plant in Balloki, Kasur. The acquisition is from M/s. Mahmood Textile Mills Limited and Khawaja Mehr Ali, facilitated by a…

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Engro Powergen Thar Limited Urges CPPA-G to Settle Rs 32 Billion Debt by Month-End

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thar-coal-power

Engro Powergen Thar Limited (EPTL) has urgently requested Central Power Purchasing Agency-Guaranteed (CPPA-G) to clear at least Rs 32 billion in outstanding payments by the end of this month. This appeal aims to prevent a default on upcoming debt obligations, according to reliable sources. EPTL’s plea to CPPA-G comes at a crucial juncture as Minister for Planning, Development, and Special Initiatives Ahsan Iqbal is in Beijing to address payment delays to Independent Power Producers (IPPs) under the China Pakistan Economic Corridor (CPEC). In a letter from EPTL’s Chief Financial Officer…

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