Category: Shortcode

Power Companies Propose Rs2.48 per Unit Tariff Increase; KE Targets 1,282 MW of Renewable Energy by 2030

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NEPRA-KE

ISLAMABAD: Electricity consumers may face another price hike as power distribution companies have requested a tariff increase of up to Rs2.48 per unit. The companies, through the Central Power Purchasing Agency (CPPA), have petitioned the National Electric Power Regulatory Authority (NEPRA) to collect an additional Rs3.488 per unit from consumers under the fuel charges adjustment (FCA) for April 2024. NEPRA has scheduled a public hearing for May 30, 2024, to address the request. The CPPA reported that 8,639 GWh of electricity was generated in April 2024 at a cost of…

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Government’s Effort to Implement WACOG Formula for Gas Tariffs Faces Opposition

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oil and gas

ISLAMABAD: The government’s efforts to implement the Weighted Average Cost of Gas (WACOG) formula for biannual gas tariff determination, which blends local and imported RLNG prices, have encountered significant opposition. Sindh Chief Minister has strongly opposed the formula, arguing that it violates Article 158 of the Constitution, which stipulates that the province producing the gas has the first right to use it. This sentiment was echoed by officials from the Energy Ministry, who emphasized the need for constitutional compliance. Prime Minister Shehbaz Sharif, on April 17, formed an 11-member committee…

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Sinosure to Implement Key Hydropower Projects in Pakistan

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Karot-Hydropower

ISLAMABAD: China’s state-owned insurance company, Sinosure, has shown a willingness to implement two major hydropower projects in Pakistan—the 700-MW Azad Pattan Hydropower Project and the 1124-MW Kohala Hydropower Project—following guidance from Beijing, well-informed sources told Business Recorder. Successive Pakistani governments have struggled to commence these vital hydropower projects due to Sinosure’s reluctance, primarily driven by payment issues with existing companies and the substantial circular debt, which currently hovers around Rs 2.6 trillion. Minister for Planning, Development, and Special Initiatives recently raised concerns about the delay in these projects during meetings…

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Circular Debt Soars to Over Rs2.6 Trillion, Exceeding Government Targets

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Pakistan-Debt

ISLAMABAD: The circular debt in Pakistan’s power sector has surged to Rs2.636 trillion by the end of January 2024, surpassing the government’s commitment to keep it within Rs2.31 trillion for the fiscal year. According to data from the Power Division of the Ministry of Energy, the circular debt rose by Rs84 billion in January alone, reaching Rs2.636 trillion compared to Rs2.551 trillion in December 2023. Despite multiple tariff hikes through annual base tariffs, quarterly adjustments, and fuel cost adjustments, the debt continues to climb, with a net increase of Rs325…

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No Plans to Scrap Solar Net Metering Policy: Energy Minister

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Energy-Minister

LAHORE: Federal Minister for Energy Awais Ahmad Khan Leghari reaffirmed on Sunday that the government has no intention of ending the solar net-metering policy. Addressing media reports that suggested a shift to a gross-metering mechanism, Minister Leghari clarified that the net metering policy, which allows consumers to sell excess electricity generated by their solar systems back to the grid, would remain in place. This policy significantly reduces electricity bills for consumers. In contrast, the proposed gross metering mechanism would require consumers to feed all generated electricity into the national grid…

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