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K-Electric’s power tariff cut by Rs7.43 per unit

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  • FCA for Nov 2022 will be reflected in billing month of Jan 2023.
  • NEPRA approves a hike of Rs0.189 for XWDISCOs.
  • Tariff cut and hike will be applicable to all consumer categories.

The National Electric Power Regulatory Authority (NEPRA) on Wednesday decided to slash the power tariff by Rs7.43 per unit for K-Electric (KE) consumers on account of fuel cost adjustment (FCA) for November 2022.

In its petition filed with NEPRA, KE had requested a tariff reduction of Rs7.043 per kilowatt-hour (kWh). The regulator conducted a public hearing on December 27, 2022, and approved a reduction of Rs7.43 per unit.

The FCA for November 2022 will be reflected in the billing month of January 2023. The tariff cut will be applicable to all consumer categories except for:

  • Lifeline consumers
  • Domestic consumers consuming up to 300 units
  • Agricultural consumers
  • Electric vehicle charging station users

The regulator clarified that the negative adjustment would be applicable to domestic consumers having Time-of-Use (ToU) meters irrespective of their consumption levels.

“The adjustment shall be shown separately in the consumers’ bills on the basis of units billed to the consumers in the respective month to which the adjustment pertains,” the notification read.

Meanwhile, the power regulator increased the power tariff by Rs0.1892 per kWh for ex-WAPDA Distribution companies (XWDISCOs).

The adjustment will also be reflected in January 2023 bills and would be applicable to all consumer categories except

  • Electric vehicle charging stations
  • Lifeline consumers

The impact of this increase will be around Rs1.75 billion including 17% general sales tax. Meanwhile, the impact of the power cut for KE will be over Rs11 billion, however, it will not be passed into lifeline consumers.

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Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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Business

SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Business

Discos report losses of Rs239 billion.

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When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.

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