Green meters push PESCO toward bankruptcy

The installation of green meters and the growing use of solar energy in the posh areas of Peshawar and major shopping malls has drastically reduced the revenue of the Peshawar Electric Supply Company (PESCO).

In response, PESCO has halted the installation of green meters in affluent areas of the Peshawar district.

Due to excessive load shedding and the rising cost of electricity, many residents in these upscale neighbourhoods - as well as in surrounding areas - have increasingly shifted to solar energy and opted for green meters to manage their electricity needs.

This transition has pushed PESCO into a severe financial crisis, as it now has to purchase electricity from green meter users while facing a sharp decline in demand for its own supplied electricity.

Senior PESCO officials told The Express Tribune that if the current trend continues, it will become impossible to save the organization from bankruptcy.

While there are reports that the federal government may impose an 18 per cent tax on the installation of green meters, PESCO officials have already stopped their installation in Peshawar's elite localities.

Sources have also revealed that a decision is expected soon under which PESCO will no longer purchase electricity units from green meter users. Instead, consumers will be required to pay for the electricity they consume from the grid, regardless of how much solar energy they generate.