Month: March 2025

Govt to Reevaluate Net Metering Policy After Strong Backlash

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solar-electricity

ISLAMABAD: In response to widespread criticism, the government has decided to expand consultations on the Solar Net Metering Regulations approved by the Economic Coordination Committee (ECC) and re-submit recommendations to the federal cabinet after incorporating feedback from all stakeholders. The decision was made during a *federal cabinet meeting on Wednesday, following intense backlash over the government’s March 13 move to reduce the net metering buyback rate by two-thirds to *Rs10 per unit and eliminate net billing. The changes, aimed at curbing solar net metering growth amid rising grid electricity costs,…

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Huawei and AE Power Forge Partnership to Introduce LUNA2000-107kwh/167kwh/215kwh Commercial Battery Energy Storage System in Pakistan

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New-HUAWEI

Lahore, Pakistan – March 24, 2025 – In a landmark move towards advancing sustainable energy solutions in Pakistan, Huawei and AE Power have officially entered into a strategic partnership to bring the LUNA2000- 107kwh/167kwh/215kwh Commercial Battery Energy Storage System (BESS) to the local market. The agreement was formalized at a signing ceremony attended by Mr. Rana Abbas, CEO of AE Power, and Mr. Kevin Technical Sales Director Huawei.​The LUNA2000- is Huawei’s latest innovation in energy storage, designed to provide efficient, reliable, and scalable energy solutions for commercial applications. This cutting-edge…

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US natural gas prices hold near 3-week low

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natural gas prices

NEW YORK: US natural gas futures held near a three-week low on Tuesday on record output and forecasts for milder weather and lower demand over the next two weeks than previously expected. Traders noted higher demand from the expected return of Freeport LNG’s export plant in Texas on Tuesday from an outage on Monday offset the forecast for lower demand from milder weather. Front-month gas futures for April delivery on the New York Mercantile Exchange were up 1.6 cents, or 0.4%, to $3.93 per million British thermal units (mmBtu) at…

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India’s Reliance to stop buying Venezuelan oil over US tariffs: sources

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US tariffs

NEW DELHI: India’s Reliance Industries, operator of the world’s biggest refining complex, will halt Venezuelan oil imports after the United States announced a 25% tariff on nations buying crude from the South American nation, three sources said on Wednesday. The Indian conglomerate, which last year obtained approval from U.S. authorities to purchase oil from the sanctioned producer, imports an average of 2 million barrels of Venezuelan crude every month, according to LSEG data. It is scheduled to receive a Venezuelan cargo in early April, LSEG trade flows data showed. U.S.…

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Oil prices climb 1% on US crude and fuel stock draw, Venezuela supply worries

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Oil prices

HOUSTON: Oil prices rose on Wednesday, buoyed by government data showing U.S. crude oil and fuel inventories fell last week and by mounting concerns about tighter global supply following the U.S. threat of tariffs on nations buying Venezuelan crude. Brent crude futures gained 82 cents, or 1.12%, to $73.84 a barrel by 12:11 p.m. ET (1611 GMT), their highest since February 27. U.S. West Texas Intermediate crude futures rose 82 cents, or 1.19%, to $69.82 a barrel. Both benchmarks rose more than $1 a barrel during the session. Oil prices…

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