K-Electric Limited (KEL) on Monday announced that it has received approval from the National Electric Power Regulatory Authority (NEPRA) for its Power Acquisition Programme (PAP), spanning from FY2024 to FY2028.
The power utility shared this information with the Pakistan Stock Exchange (PSX) through a notice.
The approval, which KEL sought on March 20, 2023, aligns with regulations set forth in the 1997 Electric Power Act and subsequent NEPRA regulations of 2022.
This program is designed to address long-term energy demands by expanding capacity in a sustainable, reliable, and cost-effective manner across KEL’s licensed service areas.
The PAP is crucial for KEL as it positions the company to continue fulfilling its role as the Supplier of Last Resort (SoLR), ensuring that all consumers within its territory have access to electricity, especially in times of market shortfall.
This strategic plan not only underscores KEL’s commitment to enhancing energy infrastructure but also plays a vital part in stabilizing the national grid by mitigating future power shortages and contributing to the economic stability of the region.
