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Friday 21 June, 2024
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NEPRA Public Hearing on KE’s Generation Tariff Petition has Concluded

BY Shahzad Saeed May 03, 2023. 02:37 pm UPDATED: May 03, 2023. 05:20 pm

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The public hearing on KE’s tariff petition for its existing power generation plants was concluded today by the National Electric Power Regulatory Authority (NEPRA). KE’s leadership shed light on details regarding issues framed by the Regulatory Authority on its Generation Tariff Petition during the hearing.

It is important to note that the outcome of this hearing and decision will have no impact on the consumer tariff charged in monthly bills issued to customers, which is governed by the uniform or ‘equal’ tariff policy.

KE has submitted separate requests for each business segment, based on the lessons learned from the current Multi-Year Tariff and upcoming market reforms such as the separation of Distribution and Supply businesses and the implementation of the CTBCM model. This initiative will increase transparency and visibility. The company has filed a Generation Tariff Petition for the remaining useful life of its six power plants in this regard. In light of the vision of moving toward centralized economic dispatch, KE has requested separate plant tariffs. To ensure consistency, each plant has been benchmarked against comparable existing generation units across the country.

“We would like to thank NEPRA for providing us with the opportunity to explain the salient features of our petition in greater detail,” said a spokesperson for K-Electric. Our goal with the generation tariff petition is to reduce the cost of electricity production by utilizing power plants more efficiently and with an optimized fuel mix. Furthermore, it is to seek approval from the regulator on the costs incurred to maintain and operate our plants in order to ensure that adequate supply is readily available to meet demand. This is a step toward our goal of having 30% of our energy supply come from renewables by 2030, allowing everyone to have access to affordable power.”

In March, a hearing was held to discuss KE’s PKR 484 billion investment plan for transmission and distribution through FY30. The company has also shared a Power Acquisition Programme that outlines the addition of up to 2200 MW of electricity by FY30 and filed for a non-exclusive distribution license. The upcoming addition is largely powered by renewable energy or locally available resources.

About K-Electric:

K-Electric (KE) is a publicly-traded company that was founded in Pakistan in 1913 as KESC. KE, which was privatized in 2005, is Pakistan’s only vertically integrated utility, supplying electricity across a 6500 square kilometers territory that includes Karachi and its surrounding areas. KES Power, a consortium of investors including Aljomaih Power Limited of Saudi Arabia, National Industries Group (Holding), Kuwait, and the Infrastructure and Growth Capital Fund (IGCF), owns the majority shares (66.4%) of the company listed on the PSX. The government of Pakistan is also a minority shareholder in the company (24.36%).

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