Day: January 3, 2025

Norway Leads the EV Revolution: 90% of New Cars Sold in 2024 Fully Electric

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electric-vehicles

OSLO: Nearly nine out of ten new cars sold in Norway in 2024 were fully electric, according to registration data released on Thursday. This achievement brings the country closer to its ambitious goal of exclusively selling electric cars by 2025. Fully electric vehicles (EVs) accounted for 88.9% of new car sales, up from 82.4% in 2023, as reported by the Norwegian Road Federation (OFV). Tesla led the market, followed by Volkswagen and Toyota, while Chinese EVs captured nearly 10% of new car sales. “Norway is on the verge of erasing…

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Senate Proposes EV Charging Units at Fuel Stations to Promote Green Transport

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Pak-China

ISLAMABAD: The Senate Standing Committee on Industries and Production has recommended the installation of electric vehicle (EV) charging units at all fuel stations nationwide to encourage eco-friendly transportation. During the session, committee chairman Senator Aon Abbas raised concerns about the regulatory oversight of renewable energy and new energy technologies. He questioned the mechanisms governing solar panel prices and the factors affecting demand and supply equilibrium. The senator highlighted the unregulated installation of solar panels across the country, emphasizing the need for proper regulation. Officials from the energy ministry informed the…

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Petroleum Product Sales Rise 3% YoY in December 2024, Totaling 1.28 Million Tons

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Petrol-Diesel

KARACHI: Pakistan’s petroleum product sales increased by 3% year-on-year (YoY) to 1.28 million tons in December 2024, driven by reduced petroleum prices, macroeconomic stability, and a decline in smuggling, experts observed. Cumulatively, sales for the first half of FY25 reached 8.0 million tons, a 4% YoY increase compared to 7.7 million tons during the same period last year. Excluding Furnace Oil (FO), December sales stood at 1.2 million tons, reflecting a 7% YoY growth but a 20% month-on-month (MoM) decline. For H1-FY25, Ex-FO sales grew by 8% YoY, reaching 7.7…

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NEPRA Demands Recovery Plan from TESCO Amid Tax Relief Withdrawal and Metering Issues

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Nepra

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has sought a comprehensive recovery plan from the Tribal Areas Electricity Supply Company (TESCO) in anticipation of potential government withdrawal of tax exemptions for industrial consumers and the metering of domestic consumers. This inquiry arose during NEPRA’s review of TESCO’s five-year (2025-26 to 2029-30) Investment and Business Plan, which includes an approved investment of Rs. 14 billion. Currently, TESCO supplies electricity for four hours daily to non-metered domestic consumers, with their bills covered by federal budget allocations. Meanwhile, industrial consumers are exempt…

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Leghari’s Comments on K-Electric’s Multi-Year Tariff Stir Debate

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K-Electric

ISLAMABAD: Recent statements by Minister of Energy Sardar Awais Leghari concerning K-Electric‘s seven-year Multi-Year Tariff (MYT) have ignited debate, raising concerns among industry stakeholders and analysts. The minister’s suggestion to reduce KE’s tariff under the new MYT to “protect” Karachi residents has left experts questioning its practicality and impact. Industry analysts point out that under Pakistan’s uniform tariff policy, electricity rates are standardized nationwide, rendering changes to KE’s MYT unlikely to affect consumers’ bills directly. “Even if KE’s utility tariff is lowered, consumers in Karachi will continue to pay the…

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