The National Electric Power Regulatory Authority (Nepra) on Friday approved reduction from 17 to 12-13 per cent in the Return on Equity (RoE), Return on Equity during Construction (RoEDC), Operation & Maintenance and Insurance components of a total of 12 renewable independent power producers (IPPs) under renegotiated tariff contracts with the government. The regulator said the reduction in tariffs will…
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Oil & Gas Middle East will next month introduce a paywall across its website. Readers will be able to unlock unlimited access to Oilandgasmiddleeast.com for $14.99 per month to enjoy the market-leading content we strive to create. The move is recognition of Oil & Gas Middle East’s status as an authoritative media brand for the Middle East’s upstream sector, informing…
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Chinese scientists on a marine research vessel used China’s home-made “Sea Bull II” drilling system to obtain a sediment core 231 metres (253 yards)long at a depth of 2,060 metres (6,760 feet), the official Xinhua news agency said. The system can help explore natural gas hydrate resources in the seabed, Xinhua added, referring to the solid ice-like crystals formed from…
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International Monetary Fund (IMF) has projected that arrears of state owned gas companies – Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company (SSGC) will rise by 0.6 percent of GDP by the end of financial year 2021-22 due to higher cost-revenue mismatch as more liquefied natural gas (LNG) has recently been diverted from the high price power…
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ISLAMABAD: The government will neither privatize its all electric power distribution companies (DISCOs) nor sell out their shares as well, rather it will hand over management of every company and outsource the high losses feeders to the private sector. This will ensure to make DISCOs efficient by scaling down losses and increasing the recovery of the billed electricity to consumers…
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A comprehensive plan has been formulated on Punjab Chief Minister Usman Buzdar’s directives to provide international standard public transport to citizens living in major cities like Lahore, Rawalpindi, Faisalabad, and Multan. According to details, 100 electric buses will be run in Rawalpindi to modernise these cities’ transport system for which a new route plan will be designed. Route No. 1…
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K-Electric has said that enhanced use of re-gasified liquefied natural gas (RLNG) to meet growing demand for power from the city of ports during the summer season will cost an additional Rs18 billion during March-September and consumers will partially share the cost. Besides, the company has decided to provide maximum possible relief to its consumers during Ramazan, but it would strictly follow…
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Another 64 paisas per unit gets added to the monthly Fuel Charges Adjustment (FCA) for February 2021. This takes the average monthly adjustment in FY21 so far to 82 paisas per unit, of Rs1 per unit sought originally. February is historically the month with lowest electricity demand, and invariably the month with least economic merit order violations. Low power demand,…
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ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday directed the power division to deliberate further and present options for cost optimisation regarding pension liabilities of surplus employees of closed power plants. Power division presented a summary for a one-time grant to power generation companies for onward payment to distribution companies regarding the actuarial value of pension and…
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ISLAMABAD: After the NAB letter to the Power Division which says the government has the full authority to execute its revised deals with IPPs, the top bureaucracy of both the power and finance divisions is not ready to implement the altered contracts, arguing the anti-graft body didn’t so far validate the process of negotiations and agreements inked with the IPPs.…
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