Day: June 22, 2024

Kuwait announces power cuts as demand spikes in summer heat

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KUWAIT CITY: Kuwait has announced temporary power cuts in some parts of the country during peak consumption hours, saying it is struggling to meet increased demand spurred by extreme summer heat. In a statement, Kuwait’s Ministry of Electricity, Water and Renewable Energy said the scheduled cuts would occur for up to two hours a day, in the first such step for the OPEC member state as climate change causes temperatures to rise. It blamed the cuts on “the inability of power plants to meet increased demand” during peak hours amid…

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Massive Power Outage Hits Balkan States Amid Heatwave

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power-fleet

PODGORICA: A major power outage struck Montenegro, Bosnia, Albania, and most of Croatia’s coast on Friday, severely disrupting businesses, shutting down traffic lights, and leaving residents without air conditioning during a heatwave. Montenegro’s energy minister attributed the shutdown to a sudden surge in power consumption caused by the extreme heat. The interconnected power distribution systems across the Balkans facilitate transfers and trading, making the region vulnerable to such disruptions. “This was just waiting to happen in this heat,” said Gentiana, a 24-year-old student in Podgorica. The blackout, which began around…

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Hubco Subsidiary Partners with BYD to Introduce EVs in Pakistan

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electric-vehicles

KARACHI: Mega Motor Company, a subsidiary of Hub Power Company Ltd (Hubco), is set to enter the electric vehicle (EV) market in Pakistan in collaboration with Chinese EV giant BYD Auto Industry Company Limited. Hubco announced in a notification to the PSX on Friday, “Hub Power Holdings Limited, a wholly-owned subsidiary of Hub Power Company Limited, through its associated company, Mega Motor Company (Private) Limited, is entering into a new line of business in electric vehicles with BYD Auto Industry Company Limited in Pakistan.” The venture will include the execution…

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Consumers to Pay Rs1,952bn in Capacity Charges in FY25

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electricity price increased

ISLAMABAD: In the fiscal year 2025, electricity consumers will face a significant burden, paying Rs1,952 billion in capacity charges. This amount will contribute Rs18.39 per unit to the new power purchase price (PPP) of Rs30.88 per unit. For the outgoing fiscal year, the capacity charges revenue target was Rs1,874 billion, with consumers paying Rs17.02 per unit until June 30, 2024. According to a NEPRA communiqué sent to the government, the power purchase price for distribution companies (Discos) has increased by Rs4.86 per unit (18.677%) from Rs26.02 in FY24 to Rs30.88…

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