ISLAMABAD: The Pakistan Atomic Energy Commission (PAEC) has submitted a petition to the National Electric Power Regulatory Authority (Nepra) seeking a levelized tariff of Rs16.7354 per unit (5.97 cents) for the upcoming Chashma Nuclear Power Plant-5 (C-5) project. The 1,200 MW facility is estimated to cost Rs1.124 trillion and will be completed within 81 months.
The project financing comprises 19% equity and 81% debt, with the majority of funding sourced from China at an interest rate of 3%. The proposed tariff includes Rs19.8268 per unit for the initial 12 years and Rs9.6320 per unit for the subsequent 28 years, averaging a levelized tariff of Rs16.7354 per unit over the plant’s 40-year lifespan.
Project Cost Breakdown
EPC Costs: Rs965.835 billion
Non-EPC Costs: Rs69.469 billion
Interest During Construction (IDC): Rs89.538 billion
The overnight capital cost is estimated at $3,081 per kW. The plant will operate at a 90% capacity factor, and equity redemption will span 28 years. Debt repayment is scheduled over 12 years with an 8-year grace period, based on an exchange rate of Rs280 per US dollar.
Pakistan’s Nuclear Power Landscape
PAEC currently operates six nuclear units across two sites, with a combined generation capacity of 3,262 MW:
Chashma Nuclear Power Generating Station (CNPGS): Four units (C-1 to C-4) based on 300 MW pressurized water reactor (PWR) designs near Mianwali, Punjab.
Karachi Nuclear Power Generating Station (KNPGS): Two advanced PWR units (KANUPP-2 and KANUPP-3), each with 1,100 MW capacity, near Karachi, Sindh.
The original KNPGS unit, a 137 MW pressurized heavy water reactor (PHWR), was recently decommissioned after 50 years of operation.
The C-5 project represents a significant step in Pakistan’s push for affordable, sustainable, and clean energy through nuclear power development.
