The National Electric Power Regulatory Authority (Nepra) has scheduled a public hearing for December 20, 2023 on a motion filed by the Ministry of Energy to apply quarterly adjustments of Rs0.4689 per unit and Rs1.2489 per unit for the second and third quarters of financial year 2022-23 respectively for K-Electric (KE).
The request has been filed to maintain uniform tariff across the country and these charges have already been determined for ex-Wapda power distribution companies (DISCOs).
Read Ministry finds hole in NEPRA excessive bills report
Nepra will scrutinise the request and issue a final decision on the amount to be passed on to customers. DISCOs across Pakistan operate in a regulated environment and follow directives of Nepra and the government about the cost of electricity to be applied to the monthly bills of customers.
“Individual distribution companies cannot influence the process or make unilateral changes,” said a statement issued on Wednesday.
KE is a public listed company privatised in 2005. Its majority shares (66.4%) are 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 a minority shareholder (24.36%).
Published in The Express Tribune, December 14th, 2023.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ