Author: Admin

NEPRA Approves 40-Paisa Increase in K-Electric Tariff for August Fuel Adjustment

Admin
NEPRA-KE

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Tuesday approved a 40-paisa per unit fuel cost adjustment (FCA) for K-Electric (KE) customers based on power consumed in August, to be reflected in January 2025 bills. This adjustment will add approximately Rs675 million in revenue for KE, falling short of its initial request for a 51-paisa increase to collect Rs853 million. This FCA will replace the higher FCA of Rs3.04 per unit applied in December for electricity used in July, meaning the effective rate for January 2025 will be lower…

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Government to Finalize New Agreements with 18 IPPs in Six Months

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Power-sector

ISLAMABAD: The government announced plans to revise Power Purchase Agreements (PPAs) with 18 independent power producers (IPPs) established under the 1994 and 2002 power policies within the next four to six months. This comes after securing an agreement with bagasse-based power plants for tariff reductions. Power Minister Owais Khan Leghari confirmed the premature termination of PPAs with five of the oldest IPPs, with projected savings of Rs70 billion annually or about Rs411 billion over their remaining contract periods. Special Assistant to the Prime Minister Muhammad Ali, a task force member…

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Pakistan Confronts Climate Change Challenges at Sustainable Development Conference

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New-0002

ISLAMABAD: Acting President and Senate Chairman Syed Yousuf Raza Gilani highlighted Pakistan’s struggle with climate change, describing it as a significant obstacle to sustainable development. Speaking at the 27th Sustainable Development Conference (SDC), organized by the Sustainable Development Policy Institute (SDPI) with the Ministry of Climate Change, he emphasized Pakistan’s progress in climate governance. This year’s conference theme, “From Fragility to Resilience: Enhancing Sustainable Development,” set the stage for discussions on resilience, poverty alleviation, energy efficiency, and sustainable agriculture. Gilani commended Pakistan’s policy efforts in tackling climate resilience and sustainable…

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Russian oil and gas revenue jumps 57% m/m in October

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russain oil

MOSCOW: Proceeds from oil and gas sales for Russia’s federal budget in October jumped about 57% from September to 1.21 trillion roubles ($12.35 billion), finance ministry data showed on Tuesday, thanks to the once-a-quarter payment of profit-based oil tax. That’s against a forecast of 1.17 trillion roubles based on Reuters calculations, and down from 1.63 trillion roubles in October 2023. Oil and gas revenue has been the most important source of cash for the Kremlin, accounting for about a third to a half of total federal budget proceeds over the…

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Iran oil prices to China at multi-year high after exports fall

Admin
oil price

SINGAPORE: Discounts on Iranian crude oil sold to China are at their tightest in around five years as lower exports drive up prices amid concerns that Middle East tensions may disrupt supply, trading sources said. The discounts are the narrowest since Chinese independent refiners, known as teapots, stepped in as buyers in late 2019, filling a vacuum left by the country’s state refiners wary of sanctions reinstated on Iran by the United States a year earlier. Higher prices or a reduction in Iranian oil flows, which make up 10% of…

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