Author: Admin

NEPRA Warns Discos and KE: Address Overbilling or Face Legal Action

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NEPRA-KE

Islamabad: The National Electric Power Regulatory Authority (NEPRA) has issued a stern warning to Distribution Companies (Discos) and K-Electric to resolve consumer overbilling issues or face legal consequences. In a letter, NEPRA referenced its earlier directives from July 30, 2024, where it instructed Discos to adjust bills issued on a pro-rata basis. These adjustments were necessitated when meter readings taken for shorter billing periods led to inflated bills upon subsequent pro-rata calculations. The regulator highlighted that the directives stemmed from findings of an inquiry conducted by NEPRA to safeguard consumer…

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OGDC Completes Drilling of Appraisal Wells in Abu Dhabi Offshore Block

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COP29

BAKU: COP29 has been marked by contentious negotiations as developed and developing nations clash over the New Collective Quantified Goal for climate finance. Progress remains slow, with only limited advances in carbon market standards under Article 6.4 of the Paris Agreement. Disputes over the rushed adoption of these guidelines highlight lingering disagreements on carbon credits, deemed by activists as “false solutions.” Key sticking points include the operationalisation of the Loss and Damage (L&D) Fund. Established at COP27, the fund remains nearly empty, with only $10 million of the $700 million…

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Power Users to Receive Refund for Fourth Consecutive Month

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Power Users to Receive Refund

Islamabad: Public sector power companies have proposed a Rs1.016 per unit negative Fuel Cost Adjustment (FCA) in electricity bills, potentially refunding Rs10 billion to consumers overcharged in October 2024. If approved, this will mark the fourth consecutive month of negative FCA, enabled by significant fuel cost savings and a 20% base tariff hike implemented for the fiscal year 2024-2025. The Central Power Purchasing Agency (CPPA) reported an 8% year-on-year rise in power consumption in October, reaching 9.98 billion units due to the delayed onset of winter. Domestic energy sources accounted…

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Pakistan’s solar & EV sectors open up with unique perks for China

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Pakistan’s solar & EV sectors

BEIJING, Nov 15 (APP):Pakistan is set to attract Chinese investors with exclusive incentives in the booming solar and electric vehicle (EV) sectors, said Pakistan’s Trade and Investment Counsellor to China Ghulam Qadir. Addressing the 4th Beijing International Engineering Procurement Conference & Exposition for Engineering Construction Supply Chain (EPC Expo), focused on sustainable trade between China and Pakistan, Ghulam Qadir emphasized that the Pakistani government has introduced special incentives designed to strengthen bilateral cooperation in green technology. These sectors are pivotal for Pakistan’s sustainable future and present lucrative opportunities for Chinese…

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Oil prices on track for weekly loss as Chinese demand wanes

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oil price

HOUSTON: Oil prices slipped on Friday and were bound for a weekly loss as investors digested waning Chinese demand and a possible slowing of the U.S. Federal Reserve’s interest rate cut path. Brent crude futures dropped 71 cents, or 0.98%, to $71.85 a barrel by 10:32 a.m. EDT. U.S. West Texas Intermediate crude futures were down 72 cents, or 1.05%, at $67.98. For the week, Brent is set to fall 2.9% while WTI is set to decline 3.6%. China’s oil refiners in October processed 4.6% less crude than a year…

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