ISLAMABAD: The Power Division has requested the National Electric Power Regulatory Authority (NEPRA) to raise electricity price for the consumers of K-Electric by Rs 1.71 per unit. NEPRA will hold a public hearing on government requests next Wednesday (20th December 2023).
As per details, NEPRA has scheduled a hearing on a motion filed by the Ministry of Energy (power Division) to apply quarterly adjustments (QTA) of PKR 0.4689 per unit and PKR 1.2489 per unit for 2nd and 3rd quarter of FY 22-23 respectively.
The request has been filed by the Energy Ministry to maintain uniform tariff across the country, and these charges have already been determined for power distribution companies (DISCOs).
It is relevant to note that the NEPRA will scrutinise this request and issue a final decision on the amount to be passed on to customers as per procedure. Power distribution companies across Pakistan operate in a regulated environment, and follow the directions issued by NEPRA and the Government regarding the costs of electricity to be applied to customers’ monthly bills. Hence, individual distribution companies cannot influence the process or make unilateral changes.
K-Electric (KE) is a publicly listed company incorporated in Pakistan in 1913 as KESC. Privatised in 2005, KE is the only vertically integrated utility in Pakistan supplying electricity within a 6500 square kilometres territory including Karachi and its adjoining areas.Â
The majority shares (66.4%) of the company are listed in the PSX owned by 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). The Government of Pakistan is also a minority shareholder (24.36%) in the company.
