Year: 2024

Discos Seek Rs8.5bn Refund for September Fuel Overcharges

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Fuel-Overcharges

ISLAMABAD: Public sector power distribution companies (Discos) have requested a refund of approximately Rs8.5 billion, proposing a 70-paise per unit negative fuel cost adjustment (FCA) in upcoming bills for electricity consumed in September. This marks the third consecutive month of negative FCAs, largely attributed to increased fuel allowances following a 20% rise in base tariffs, effective from July 1, 2023, to June 30, 2025, as approved by the National Electric Power Regulatory Authority (Nepra). The Central Power Purchasing Agency (CPPA) has filed a petition, citing a reference fuel cost of…

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Nepra Grants 14% Dollar-Based Return to K-Electric in Divisive Decision

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NEPRA-KE

ISLAMABAD: In a split decision, the National Electric Power Regulatory Authority (Nepra) has approved a 14% dollar-indexed return on equity (ROE) for K-Electric (KE) generation plants under a multi-year tariff extending to 2030. This decision, which faced strong opposition from Nepra’s member tariff, is tied to KE’s power plants operating on fuels like high-speed diesel (HSD) and liquefied natural gas (RLNG). While the majority of Nepra supported KE’s request, member Mathar Niaz Rana criticized the decision as “excessive and unfair,” citing concerns over high costs and limited energy contribution. Rana…

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Sindh Chief Minister Launches Solar Energy Initiative at Karachi Central Jail

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Central-Jail

Karachi – Sindh Chief Minister Syed Murad Ali Shah, alongside Minister of Energy Sindh, inaugurated the solarization of Central Jail Karachi, a pioneering project aimed at reducing energy costs and promoting sustainable energy solutions within the correctional facility. The project has a total installed capacity of 614.8 KW, exceeding the building’s energy demand of 549.5 KW. Implemented under the Sindh Solar Energy Project (SSEP) at an estimated cost of PKR 216 million, the investment is expected to be recovered within three years of operation. With a lifespan of 25 years,…

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Sindh Chief Minister Inaugurates Solar Power Project at DUHS Hospital, Karachi

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DUHS-Hospital

Karachi – Sindh Chief Minister Syed Murad Ali Shah, along with provincial ministers Sharjeel Memon, Nasir Hussain Shah, Saeed Ghani, Ali Hassan Zardari, and Waqar Mehdi, inaugurated a significant solar power project at the Dow University of Health Sciences (DUHS) Ojha Campus Hospital. This initiative, launched under the Sindh Solar Energy Project (SSEP) with support from the World Bank, is a major step towards integrating sustainable energy in healthcare facilities. The solar project will generate 2.32 MW of power at an estimated cost of PKR 290 million. According to Chief…

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Oil prices dip as Blinken arrives in Israel for talks, China demand weighs

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oil price

TOKYO/SINGAPORE: Oil prices eased on Tuesday as the top US diplomat renewed efforts to push for a ceasefire in the Middle East and as slowing demand growth in China, the world’s top oil importer, continued to weigh on the market. Brent crude futures for December delivery were down 60 cents, or 0.8%, at $73.69 a barrel at 0717 GMT. US West Texas Intermediate crude futures for November delivery were 6 cents lower at $70.50 a barrel on the contract’s last day as the front month. The more actively traded WTI…

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