Month: September 2024

K-Electric CEO Supports Entry of Other Discos into Karachi for Healthy Competition

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circular-debt-K-electric-ceo

K-Electric CEO Supports Entry of Other Discos into Karachi for Healthy Competition September 19, 2024 KARACHI: Moonis Alvi, CEO of K-Electric, has endorsed the entry of other electricity distribution companies (Discos) into Karachi, emphasizing that competition would enable a fair evaluation of performance. Speaking at the Korangi Association of Trade and Industry (KATI), Alvi also advocated for K-Electric’s expansion beyond Karachi, allowing the utility to serve other cities in Pakistan. Alvi highlighted KE’s efforts to oppose Power Holding Limited (PHL) charges and urged the business community to collaborate in eliminating…

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WAPDA Seeks Power Division’s Approval for Mangla Power House Tunnel Closure for Refurbishment

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Mangi-Dam

ISLAMABAD: The Water and Power Development Authority (WAPDA) has formally approached the Power Division, seeking approval for the closure of Tunnel No. 1 (units 1 and 2) at the Mangla power house for 18 months to undergo refurbishment. The project aims to enhance the power house’s capacity by 310 MW, increasing it from 1,000 MW to 1,310 MW. The refurbishment project, approved by the Executive Committee of the National Economic Council (ECNEC) in December 2023, is expected to extend the plant’s operational life by 30 to 35 years. WAPDA has…

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Power Firms to Refund Rs7.2 Billion Amid Decline in Demand

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Nepra-Price

ISLAMABAD: Public sector power companies have proposed a 57-paise-per-unit negative fuel cost adjustment (FCA) in electricity bills to refund Rs7.2 billion overcharged to consumers last month. This marks the second consecutive month of negative FCA, driven by robust fuel allowances approved by the National Electric Power Regulatory Authority (Nepra) following a 20% base tariff increase, effective July 1, 2023. In August, domestic fuel sources accounted for 79% of the total power supply, with more than half generated at zero fuel cost. Last month, Nepra approved a 37-paise-per-unit negative FCA for…

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Pakistan’s Oil and Gas Companies Face Billions in Unpaid Dues; PM Directs Immediate Action

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oil and gas

Pakistan’s oil and gas sector is facing a major financial crisis, with companies owing the federal government billions in unpaid dues. Prime Minister Shehbaz Sharif has taken notice of the situation, instructing the Petroleum Division to take immediate steps to recover the outstanding amounts. As of last year, over PKR 44.39 billion in royalties is owed by various companies. Key defaulters include: PEL: PKR 1.16 billionOGDCL: PKR 26 billionUnited Energy: PKR 9 billionOrient Pakistan: PKR 870 millionThe Petroleum Division attributes delays in payments to the country’s circular debt and a…

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Global Solar Generation Surpasses Wind Power: The Rise of Big Solar

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Solar-Wind

Since May 2023, solar electricity generation has overtaken wind as the leading utility-scale renewable energy source. Higher solar output during the summer months has extended this dominance, with solar generating 9.57 terawatt hours (TWh) more than wind in June alone, according to energy think tank Ember. While this trend is expected to continue through August, wind power is projected to regain the lead by September, when wind speeds increase with the onset of winter in Europe, North America, and Northern Asia. Solar energy is growing at a faster pace than…

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