Karachi: NEPRA announced to conduct a public hearing on 27 December over the petition submitted by K-Electric on account of Fuel Charges Adjustments (FCA) for November 2022. For the month of November, K-Electric has filed a petition for a reduction in FCA at the rate of PKR 7.04/KWh.
FCAs are dependent on changes in global prices of fuel and are passed on to consumer bills under the prescribed rules and regulations of NEPRA and the Government of Pakistan. FCAs are approved by NEPRA after review who also specifies the month during which the charge is applied in consumer bills.
November’s FCA was lower primarily due to a reduction in prices of RLNG, Furnace Oil, and power purchased from CPPA-G by 18%, 15%, and 37% respectively as compared to September 2022.
About K-Electric
K-Electric (KE) is a public listed company incorporated in Pakistan in 1913 as KESC. Privatized in 2005 KE is the only vertically integrated utility in Pakistan supplying electricity within a 6500 square kilometers territory including Karachi and its adjoining areas. The majority shares (66.4%) of the company are listed in the PSX 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 also a minority shareholder (24.36%) in the company.