Tag: #K-Electric

K-Electric seeks $2bn from Shanghai Electric for stake sale

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k-electric

KARACHI: K-Electric (KE), Pakistan’s only private sector power utility, said on Wednesday it wants Shanghai Electric Power (SEP) to raise its offer to buy a majority stake in the company to $2 billion, citing improved performance and growth prospects. The SEP had previously offered to acquire 66.40 percent shares in KE for $1.77 billion, but the deal has been delayed for years due to regulatory hurdles and legal disputes. Shan Ashary, Chief Investment Officer (CIO) of Al-Jomaih and a director at KE, told a group of journalists in Karachi that…

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Why surcharge slapped on KE consumers for a year

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K-Electric

ISLAMABAD: K-Electric consumers got cheaper electricity from July 2019 to September 2020 as they did not pay the quarterly tariff adjustments (QTAs) during the said time. To this effect, the Economic Coordination Committee (ECC) allowed the utility company to recover Rs24.5 billion from its consumers in 12 months. K-Electric will pay the collected amount to the Central Power Purchase Agency (CPPA-G). According to the relevant Power Division official, the QTAs were pending due to various proceedings under adjudication/ decision at various forums. And due to this pendency, the impact of…

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Seminar on Energy Crisis and Way Forward

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Energy-Crisis

Karachi needs at least four more power distribution companies for efficiency of services, lowest electricity rates for consumers: Sindh Governor Karachi Karachi needs at least four more power distribution companies like the existing K-Electric to serve the city’s power consumers in the best possible manner with maximum efficiency of service and the lowest rates of electricity. Sindh Governor, Kamran Khan Tessori, gave the suggestion to this effect while speaking as the chief guest at a seminar on Energy Crisis and Way Forward and 17th Anniversary of Energy Update organised by…

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K-Electric partners with Visa

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KARACHI: K-Electric has partnered with Visa to work together for KE consumers by offering them to make digital payments of their utility bills, a statement said on Thursday. KE said it intended to bring convenience and value to their constituents. The company has signed a strategic partnership with Visa to enable the primarily through Visa’s digital payment solutions and partner bank mobile applications. According to details, Visa cardholders of the banks – HBL, Bank Alfalah, Meezan Bank, Standard Chartered Bank, and Easypaisa – with electricity bills of at least Rs1,000…

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