The management of K-Electric (KE) has submitted a plan to the power regulator ensuring to make 95% of Karachi to be load shedding free in the next seven years. The plan involves an investment of Rs484 billion to improve its network during the same period. The company also aims to reduce transmission and distribution losses…
Inflation, rising electricity costs and economic slowdown have hit the KE profitability and recoveries of bills in the first half of financial year 2023. In the first half of FY23, sociopolitical and macroeconomic factors have wreaked havoc on numerous sectors, including KE. Inflation, policy rate hikes, and economic slowdown hurt the Company’s operations and revenue…
The consumers of Power distribution companies (Discos) are set to face hike in electricity bills in March 2023. The Nepra on Tuesday indicated to increase power tariff of Rs 0.48 per unit for Discos consumers except KE. The power regulator also indicated that KE consumers would face an increase of Rs 1.71 per unit in…
Participants underline the cultural change in day-to-day working, operations, and business plans of commercial entities Oil & Gas Development Company Limited (OGDCL) arranged a workshop on “innovation and strategy for the energy sector” with Dr. Hitendra Patel, an international strategy expert and Managing Director of IXL, as the keynote speaker. The idea was conceived by…
After receiving recommendations from the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) announced a hike in gas prices from 16.6% to 124.4% for Sui Northern Gas Pipelines Limited and Sui Southern Gas Company Limited gas users on Wednesday. OGRA reported that the Ministry of Energy (Petroleum Division) notified the Economic Coordination Committee’s gas…
The Economic Coordination Committee (ECC) on Monday approved a hike in gas prices by up to 34 percent to fulfill its commitment to the International Monetary Fund (IMF). The government has increased gas prices for commercial users by 29% to Rs 1650/MMBtu.It raised up to 34 percent for exporters to Rs 1100/MMBtu. The ECC also…
In order to maintain a steady supply of energy to Karachi, K-Electric has submitted a Transmission and Distribution Investment Plan with a total budget of 484 billion rupees for the fiscal years 2024–2030. KE’s plan puts the needs of customers first and uses new technologies to make the network more reliable. KE Duplicate Bill |…
Nepra said “no” to a plan to lower power prices for extra units made by people with rooftop solar power. Nepra considered lowering net metering users’ power tariff to Rs 9 per unit from Rs 19.32 per unit. Solar power generators sell excess electricity to discos for Rs 19.32 per unit. However, power distribution companies…
Local oil refineries are likely to face huge inventory losses which may drag their earnings in red keeping in view of decline in average crude oil prices during second quarter of current financial year 2022-23. Given 16%QoQ decline in average crude oil prices during 2QFY23, analysts expect local refineries to incur huge inventory losses which…
Buying a car is the dream of every family. Nothing is more exciting and fun than going on a long drive with our loved ones. Cars, on the other hand, have become quite expensive in recent years. Not everyone can afford to get a brand-new car. But you can go for a used car and…