Category: News & Announcement

South Africa’s electricity utility Eskom at the weekend resumed power outages, citing a “vulnerable” generating system, just weeks after implementing the severest rationing in recent times. The debt-laden company which generates around 95 percent of the country’s electricity, on Sunday said the cuts would last until Monday morning when factories and mines reopen after the year-end break. It had initially announced a 10-hour rationing that kicked in late Saturday to fix a broken conveyor belt at one of the major coal-fired plants, but on Sunday it extended the outages by…

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Exxon Mobil Corp’s fourth quarter operating results will decline from a year ago due to weakness in chemicals and refining, according to a regulatory filing and analyst comments on Friday. Some analysts slashed earnings projections to about 50 cents per share, down from the average earlier estimate of 71 cents, according to Refinitiv IBES. The estimates exclude gains from asset sales. Exxon on Friday provided its expectations for fourth-quarter results compared with the prior quarter. It will officially report results for the latest quarter on Jan. 31. The update “is…

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Take your SSGC December gas bills out. Pay them. You are likely to be paying or have already paid a significantly higher amount. And that makes fair sense. Temperatures have dropped, you are using the “luxury” of geysers. More importantly, the tariffs have also increased considerably from last year. What is the fuss then? Tariff increase is at least half a year old. BR Research has noticed some interesting and seemingly “not-so-innocent” instances of fishy-goings in the latest SSGC bills. Few examples of real cases will help. So there is…

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KARACHI: The K-Electric said on Friday that the figures ranging from Rs4 upwards being circulated in media circles as an increase in consumer bills were misleading. A spokesperson for the power utility said: “Some news channels and publications have quoted the figure of more than Rs4 increase in the end consumers’ monthly bills, which is incorrect”. He said it was the ministry of energy (MoE), which had the authority to notify how much would be passed on to consumers and over which period of time that amount was to be…

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ISLAMABAD: To ensure a belated compliance with the targets of International Monetary Fund (IMF), the government is set to recover additional cost of losses from consumers by imposing new surcharges aimed at financing power sector loans and generate more than Rs250 billion in annual revenue. As a first step, a meeting of the Economic Coordina­tion Committee (ECC) of the Cabinet has been convened on Monday (today) to seek approval for introduction in parliament amendments to the Regulation of Generation, Transmission and Distribution of Electric Power Act, 1997 to address about…

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