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Electricity price likely to hike across Pakistan

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New electricity tariffs after PM announces reduction in electricity

 

ISLAMABAD: Electricity is likely to be expensive across the country, including Karachi, in view of the first quarter adjustment of the current financial year.

DISCOs have requested to transfer additional load of Rs 22.56 billion to consumers. The July-September adjustment will also be applicable to K-Electric consumers.

National Electric Power Regulatory Authority (NEPRA) has issued a revision notice for the first quarter adjustment of the current financial year, which states that the adjustment tariff for July to September will be kept uniform as per the government guidelines.

As per NEPRA notification, application for quarterly adjustment for July to September 2023 has been filed in NEPRA. NEPRA will hear the first quarter adjustment application on November 14.

Electricity distribution companies have sought permission to collect Rs 12.126 billion in terms of capacity charges while a request has been made to collect Rs 10.247 billion under use of system charges.

It has also been requested to receive Rs 4.680 billion for operation and maintenance and Rs 6.670 billion  for damages.

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NEPRA increases price of electricity for consumers

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NEPRA
  • The cost of electricity for consumers hike by Rs 40 paise per unit.
  • The decision will not apply to Lifeline and K-Electric customers.
  • Earlier, OGRA issued a notification to increase gas prices.

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has increased the cost of electricity for the consumers and notification has also been issued.

According to the notification, the cost of electricity for consumers has been increased by Rs 40 paise per unit.

NEPRA’s notification said that electricity was hiked due to the September fuel adjustment and additional charges from electricity consumers will be made in November bills.

According to the notification, the decision will not apply to Lifeline and K-Electric customers.

It should be noted that Oil and Gas Regulatory Authority (OGRA) issued a notification to increase gas prices.

According to OGRA, the price has not been increased for protected consumers of gas between 25 and 90 cubic meters per month, however the fixed charges for protected consumers have been increased from Rs.10 to Rs.400.

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K-Electric launches crackdown against power theft 

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K-Electric
  • CEO K-E said action is necessary to eliminate electricity theft.
  • 3  FIRs lodged on power theft in Azizabad and N. Nazimabad.
  • Caretaker  Sindh Govt also decided to  launch crackdown in Sindh.

KARACHI:  K Electric has launched a crackdown against electricity thieves in Karachi city following the operations against power theft started across the country.

Chief Executive Officer (CEO) K- Electric Moonis Alvi has said that K Electric has formally launched an operation against electricity thieves in Karachi.

He said that immediate action is necessary to eliminate electricity theft and added that three FIRs were lodged on electricity theft in Azizabad and North Nazimabad.

CEO Moonis Alvi further said that he is grateful for the cooperation of the government and law enforcement agencies in the operation.

It should be noted that earlier the caretaker government of Sindh also decided to crack down on the electricity thieves across the province.

In this regard, a provincial task force committee has been formed under the chairmanship of the Home Secretary, the notification of which has also been issued.

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Karachiites Rejoice as Electricity Bills Reduced for Tax Filers

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Karachiites Rejoice as Electricity Bills Reduced for Tax Filers

K-Electric waives advance income tax on electricity bills for tax filers in Karachi. Eligible customers must have the address on their electricity bill match the one on their CNIC. Customers can register for the waiver on the K-Electric website. K-Electric provides tax relief to taxpayers by waiving advance income tax on electricity bills. In a … Read more

MQM’s Farooq Sattar warns of protest if power rate not lowered

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MQM protest

Muttahida Qaumi Movement-Pakistan (MQM-P) leader Dr Farooq Sattar, has expressed concern about the worsening situation in the country, highlighting the rise in electricity rates. He believed that the country is moving towards chaos very quickly, pointing out that electricity bills have become unaffordable for the lower and middle classes due to inflation. He mentioned that … Read more

Enraged citizens thrash K-E staff for cutting off power connections

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K-Electric

KARACHI: A group of enraged citizens thrashed staff members of the K-Electric which arrived to disconnect illegal connections. The incident occurred in Ahsanabad area where local residents attacked the K-Electric team that came to cut off illegal power connected.  The residents violently thrashed the power utility employees who were forced to run for their lives. … Read more

NEPRA approves hike in electricity price by Rs 5.40 per unit  

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NEPRA
  • A hearing was held in NEPRA on 4th quarter adjustment of 2022-23.
  • The increase in tariff will not applicable to KE and lifeline consumers.
  • The regulatory body will issue detailed decision of hearing later.

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved the hike in electricity price by Rs 5.40 per unit on the account of quarterly fuel adjustment.

A hearing was held in NEPRA on the fourth quarter adjustment of the financial year 2022-23.

NEPRA has approved to increase the price of electricity by Rs 5.40 per unit for the quarterly adjustment, the approval was given for the fourth quarter adjustment of the year 2022-23.

The increase in tariff will not applicable to K-Electric and lifeline consumers.

The regulatory body will issue the detailed decision of the hearing regarding electricity price hike later and the final decision and notification will be issued by the federal government.

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Good News: KE will be under control of AsiaPak Investments soon

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AsiaPak
  • AsiaPak acquired 54% of shares of K Electric.
  • The citizens will get cheap electricity in near future.
  • Investments will be made in coal, wind, and solar.

KARACHI: Good news for the citizens of Karachi from the new owner with 54% shareholders of K Electric, Head of AsiaPak Investments Shehryar Chishti announced to give cheap electricity to the citizens of Karachi.

Shehryar Chishti told the media on Wednesday. In the meeting, it was said that the control of K Electric will soon come to AsiaPak because AsiaPak has acquired 54 percent of the shares of K Electric.

Shehryar Chishti said that in the next five and a half to three years get cheap electricity for Karachi. He said billions of dollars will be invested.

He said that for cheap electricity, investments will be made in coal, wind, and solar and firstly the imported coal power plant in Jamshoro will be shifted to Thar coal, 660 MW Jamshoro plant is ready and the Jam A plan is also ready to transfer Shoro coal plant to generate electricity on Thar coal, by shifting this plant to coal, cheap electricity can be obtained from local coal in the next six months.

Shehryar Chishti further said that Jamshoro plant The transition to local coal will cost 50 million dollars, another 660 MW local coal plant will be installed in Jamshoro, 3000 MW of cheap electricity will be obtained from wind and solar in the next five years, in this project. There will be an investment of two and a half billion dollars and this investment will be supported by investors from the United Arab Emirates.

He said that they are ready for the sale of K Electric to Shanghai Electric, and Pakistani banks should finance the coal projects.

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Govt approves massive hike in power tariff by Rs7.5 per unit

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Government vows major drop in power tariff soon for citizens

Cabinet approved increasing power tariff up to Rs7.5 per unit. The price hike includes consumers of K-Electric. NEPRA will hold a public hearing to finalize the decision. ISLAMABAD: The federal cabinet has given its approval for a massive increase of up to Rs7.5 per unit in the base power tariff, adding to the woes of … Read more

Shanghai Power Company submits bid to buy KE again

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Power
  • Chinese company submitted a bid to buy 66.4% shares.
  • Shanghai Electric trying to buy KE’s shares for six-years.
  • Shanghai Electric wants to buy 66.40% management control.

KARACHI: Chinese Shanghai Electric Power Company Ltd has once again submitted a bid to buy K-Electric, the only private electricity supplier in Karachi.

According to the details, the Chinese company Shanghai Electric once again submitted a bid to buy 66.4% of K Electric’s shares.

Shanghai Electric has been trying to buy K -Electric’s shares for the past six years but is awaiting certain legal and regulatory approvals.

According to the announcement on the website of the stock market, in this regard, the announcement of Shanghai Electric’s purchase of its share has been published in local newspapers.

It should be noted that K-Electric is the only private company supplying electricity in Karachi.

Recall that in June, the purchase deal between K-Electric and Shanghai Electric fell through and the Chinese company withdrew its offer to buy.

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Public outcry as KE seek power tariff raise

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KE power tariff raise

Power tariff is likely to go up by Rs2.33 per unit. Consumers of government distribution companies may face an increase of Rs1.89 per unit in electricity prices. KE consumers are estimated to bear a burden of Rs4.38 billion due to price hike. In a disappointing development for electricity consumers, there are expectations of an impending … Read more

NEPRA increases price of electricity for KE consumers

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NEPRA increases price of electricity for KE consumers
  • Electricity has been made more expensive for Karachi
  • NEPRA has issued notification to increase price of electricity.
  • K-Electric consumers will have to pay extra in their July bills.

KARACHI: The National Electric Power Regulatory Authority (NEPRA) has increased the price of electricity for Karachi by Rs 1.44 per unit.

This increase has been made in the context of the monthly fuel adjustment for May and Electricity has been made more expensive for Karachi. NEPRA has issued a notification to increase the price of electricity.

K-Electric consumers will have to pay extra in their July bills, but the recent increase will not apply to K-Electric’s Lifeline customers.

Earlier, in the current month of March, the cost of electricity was increased for the people of Karachi.

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CPPA submits request to Nepra for monthly fuel price adjustment

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CPPA
  • The application revolves around the fuel price adjustment for February.
  • CPPA proposed 86 paise per unit hike.
  • K- electric submitted a separate request to Nepra.

Electricity consumers, already grappling with inflation are served with another potential blow to their wallets.

Central Power Purchasing Agency (CPPA) has approached Nepra with a request to adjust fuel prices on a monthly basis. This application revolves around the fuel price adjustment for February, with a scheduled hearing by Nepra on March 30.

CPPA has proposed an 86 paise per unit hike in electricity prices for one month, which, if approved, will impact the users of government discos.

Notably, K Electric has already submitted a separate request to Nepra, seeking a 62 paise increase under the Fuel Cost Adjustment (FCA) mechanism.

Both the state-run discos and K-Electric will have their petitions heard on the same day.

This comes after the recent decision on March 3, wherein the Government of Pakistan consented to the International Monetary Fund’s (IMF) demands, imposing a permanent electricity tariff of Rs3.23 per unit to recover Rs335 billion from consumers. This move was a crucial step towards securing a staff-level agreement with the IMF.

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KE files robust investment plan worth Rs484 billion

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KE files robust

The K-Electric (KE) has filed its investment plan for FY24/30 for transmission and distribution segments. KE has halved its transmission and distribution losses, doubled its customers’ base and power consumption. The new plan envisages to invest Rs484 billion in the transmission and distribution business.     KARACHI: The K-Electric (KE) has filed its investment plan … Read more

ECC approves hike in prices of 18 drugs

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ECC approves hike in prices

The ECC of the Cabinet approved an increase in the prices of 18 drugs. The ECC considered a summary of the Ministry of National Health Services. It also approved DPC recommendation to reduce MRPs of 20 drugs. The Economic Coordination Committee (ECC) of the Cabinet approved an increase in the prices of 18 drugs, which … Read more

Power supply restored to all grid stations in Karachi: K-Electric

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Karachi power supply

K-Electric said power supply has been restored to all gird stations He said power supply to strategic installations had already been restored He appreciates the cooperation of customers and authorities KARACHI: K-Electric has announced the power supply has been restored to all gird stations in Karachi after a massive breakdown. Imran Rana, a spokesperson for … Read more

Power supply partially restored in major cities of Pakistan

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electricity breakdown cities

Electricity breakdown hits major cities of Pakistan Cities plunged into darkness early Monday morning The outages took place at 7:34 am A countrywide electricity breakdown hits major cities including Islamabad, Karachi, Lahore, and Quetta as a high-tension power line between Quetta and Guddu tripped, reported BOL News on Monday. The cities plunged into darkness after … Read more

NEPRA reduces power tariff by Rs7.43 per unit for KE consumers

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New electricity tariff for consumers using upto 200 units from October 1

NEPRA reduced power tariff by Rs 7.43 per unit The tariff will be applicable K-Electric consumers The decision would provide a relief of Rs10.61bn KARACHI: National Electric Power Regulatory Authority (NEPRA) announced a reduction in power tariff by Rs7.43 per unit for K-Electric (KE) consumers. The reduction has been made on account of fuel cost … Read more

Pakistan bourse closes in red over economic instability, rollover week

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Pakistan bourse closes in red over economic instability, rollover week

KARACHI: The Pakistan equity market closed lower on Wednesday owing to economic uncertainty besides rollover week square-ups, analysts said. An analyst at Arif Habib Limited said that the stocks witnessed a bearish session, where the market opened in the green zone but within initial trading hours, the bears took charge from the bulls and the … Read more

NEPRA lowers power tariff by Rs7.43 per unit

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NEPRA power tariff

NEPRA reduces power tariff by Rs 7.43 per unit Announcement came under Nov fuel cost adjustment It will provide a relief of Rs10.61 billion ISLAMABAD: The National Elec­tric Power Regulatory Authority (NEPRA) has approved a reduction in power tariff of Rs 7.43 per unit for K-Electric (KE) consumers. The reduction has been announced on account of … Read more

K-Electric requests Rs7.04/unit reduction for November FCA

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K-Electric requests

K-Electric has filed a petition for a reduction in the fuel charges. The rate of Rs7.04/unit for the month of November, 2022.  Nepra announced  public hearing on December 27. KARACHI: The K-Electric has filed a petition for a reduction in the fuel charges adjustment (FCA) at the rate of Rs7.04/unit for the month of November, … Read more

K-Electric to undertake maintenance work at Airport-1 and Korangi Town grids

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Al-Jomaih group illegally takes over K-Electric with only 9% shares

KARACHI: The K-Electric Limited (KEL) will undertake a critical maintenance activity at Airport-1 and Korangi Town grids on Sunday, December 18, to ensure the stability and reliability of the power supply to the consumers residing in these areas, a statement said on Saturday. The activity will require a shutdown from 7:30am to 12:30pm during which … Read more

K-Electric posts loss of Rs16.3 billion in first quarter of FY23

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K-Electric

KARACHI: The challenging geopolitical and macroeconomic factors have had a cascading impact on K-Electric which grapples with immense challenges during the first quarter of fiscal year 2023. The company recorded a net loss of Rs16.3 billion in the first quarter of fiscal year 2023, compared with the net profit of Rs2.9 billion during the same … Read more

K-Electric denies letting anyone use its infrastructure for profit

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K-Electric hike

TV and internet cables are not permitted to use KE infrastructure. There are no fees associated with using KE poles. KE has been assured in talks with network operators that extra cables will be cut. The K-Electric (KE) representative has refuted claims that the company was paying TV and internet cable companies for the installation … Read more

Sindh govt should be consulted on K-Electric sale: Minister

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K-Electric sale

KARACHI: Sindh Energy Minister Imtiaz Sheikh said the provincial government should be taken into confidence before transfering the ownership/ sale of shares of K-Electric. The minister said the provincial government was investigating reports regarding the transfer of ownership of the power utility to a foreign company. He said a letter will be written to the … Read more

Karachi: Trade bodies urge govt to make power affordable for the city.

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Karachi

Representatives of eight trade and industrial associations held a joint press conference. They urged the government to ensure that industries in Karachi have affordable electricity. The SSGC is delivering 100MMCFD of RLNG to K-Electric for the purpose of producing electricity. In order to save businesses, export production, and the livelihoods of millions of people, representatives … Read more

K-Electric seeks Rs11.33/kWh increase in tariff

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k electric

KARACHI: K-Electric has approached the National Electric Power Regulatory Authority (Nepra) to increase the power tariff by Rs11.33/unit on account of fuel charges adjustment (FCA) for May. Per applicable tariff across the country, fuel adjustment is reviewed every month and is applicable on consumer bills for only one particular month. The major impact on the … Read more

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