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Month: January 2025

Senator Seeks Accountability for Corruption in World Bank-Funded Grid Station Project

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Power genration

ISLAMABAD: Senator Saifullah Abro, Chairman of the Standing Committee on Economic Affairs, has urged Federal Minister for Power Sardar Awais Leghari to take action against National Transmission and Despatch Company (NTDC) officials over alleged financial irregularities in the World Bank-funded 765kV Grid Station project at Islamabad West (Lot-IV). In a letter to the minister, Senator Abro highlighted serious concerns over…

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Nepra Criticizes Power Policies for Inflating Consumer Costs

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KE’S- 7-YEAR- INVESTMENT-ROADMAP

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has sharply criticized government power generation policies, identifying overinvestment in peak demand capacity, delays in expanding Thar coal projects, and hindrances to rooftop solar adoption as primary drivers of escalating electricity costs and financial strain on the power sector. In a special report on generation sector challenges, Nepra highlighted the inefficiency of…

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Norway Leads the EV Revolution: 90% of New Cars Sold in 2024 Fully Electric

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electric-vehicles

OSLO: Nearly nine out of ten new cars sold in Norway in 2024 were fully electric, according to registration data released on Thursday. This achievement brings the country closer to its ambitious goal of exclusively selling electric cars by 2025. Fully electric vehicles (EVs) accounted for 88.9% of new car sales, up from 82.4% in 2023, as reported by the…

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Senate Proposes EV Charging Units at Fuel Stations to Promote Green Transport

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Pak-China

ISLAMABAD: The Senate Standing Committee on Industries and Production has recommended the installation of electric vehicle (EV) charging units at all fuel stations nationwide to encourage eco-friendly transportation. During the session, committee chairman Senator Aon Abbas raised concerns about the regulatory oversight of renewable energy and new energy technologies. He questioned the mechanisms governing solar panel prices and the factors…

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Petroleum Product Sales Rise 3% YoY in December 2024, Totaling 1.28 Million Tons

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Petrol-Diesel

KARACHI: Pakistan’s petroleum product sales increased by 3% year-on-year (YoY) to 1.28 million tons in December 2024, driven by reduced petroleum prices, macroeconomic stability, and a decline in smuggling, experts observed. Cumulatively, sales for the first half of FY25 reached 8.0 million tons, a 4% YoY increase compared to 7.7 million tons during the same period last year. Excluding Furnace…

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NEPRA Demands Recovery Plan from TESCO Amid Tax Relief Withdrawal and Metering Issues

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Nepra

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has sought a comprehensive recovery plan from the Tribal Areas Electricity Supply Company (TESCO) in anticipation of potential government withdrawal of tax exemptions for industrial consumers and the metering of domestic consumers. This inquiry arose during NEPRA’s review of TESCO’s five-year (2025-26 to 2029-30) Investment and Business Plan, which includes an approved…

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Leghari’s Comments on K-Electric’s Multi-Year Tariff Stir Debate

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K-Electric

ISLAMABAD: Recent statements by Minister of Energy Sardar Awais Leghari concerning K-Electric‘s seven-year Multi-Year Tariff (MYT) have ignited debate, raising concerns among industry stakeholders and analysts. The minister’s suggestion to reduce KE’s tariff under the new MYT to “protect” Karachi residents has left experts questioning its practicality and impact. Industry analysts point out that under Pakistan’s uniform tariff policy, electricity…

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Pakistan and Iran Extend Electricity Sale Agreement with Revised Terms

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Pak-iran-1

ISLAMABAD: Pakistan and Iran have agreed to extend their electricity sale agreement, with the new pricing set between 7.7 to 11.45 cents per kWh. The agreement follows successful negotiations between the Central Power Purchasing Agency–Guaranteed (CPPA-G) and Iran’s Tavanir, reliable sources revealed. The previous agreement, which expired on December 31, 2024, facilitated the import of 100 MW of electricity from…

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The Current pricing structure is detrimental to the Global LNG industry. Long-term contracts involve substantial financial obligations, creating challenges. Financial speculation intensifies price volatility in the spot market, undermining the long-term development of the LNG industry.

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LNG industry.

Hedge funds and algorithmic trading have significantly amplified market instability, capitalizing on fear to drive speculative trades. It resulted in artificial price spikes, disconnecting it from fundamental supply and demand dynamics. Physical buyers have faced liquidity crises. Unregulated trading platforms exacerbated market instability by facilitating unchecked speculation. Speculative trading volumes far exceed actual consumption, artificially inflating TTF prices, decoupling from…

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Senate Panel Briefed: Talks with 16 IPPs Nearing Conclusion, Farmers Demand Lower Tariffs

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New-IPPS

ISLAMABAD: Negotiations with 16 Independent Power Producers (IPPs) are expected to conclude by the end of January, following the termination of contracts with five IPPs, a senior Power Division official informed the Senate Standing Committee on National Food Security and Research on Wednesday. The termination of these agreements is projected to save Rs440 billion annually, with further benefits anticipated from…

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