KE submits request for July FCA at PKR 3.09 per kWh

Islamabad: K-Electric submits provisional monthly fuel charge adjustments (FCA) requests for July 2024, at PKR 3.09 per kWh. Following a public hearing The National Electric Power Regulatory Authority (NEPRA) will issue a decision clarifying the FCA amount to be passed on to customer bills and the period for which they will be applicable.

Fuel charge adjustments are incurred by utilities due to global variations in fuel prices used to generate electricity, and the changes in generation mix. These costs are reflected in customer bills following NEPRA’s scrutiny and approval. Customers also benefit from lower FCA in their bills when global fuel prices decrease.

K-Electric (KE) is a public listed company incorporated in Pakistan in 1913 as KESC. Privatized in 2005 KE is the only vertically integrated utility in Pakistan supplying electricity within a 6500 square kilometers territory including Karachi and its adjoining areas.

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.