NEPRA issues Decision on KE’s FCA Petition for August 2024; Applicable in January 2025 Bills

NEPRA issues Decision on KE’s FCA Petition for August 2024; Applicable in January 2025 Bills

Karachi, November 05, 2024: NEPRA has issued its decision on K-Electric’s petition of provisional monthly fuel charge adjustments (FCA) for August 2024, at PKR 0.40 per unit. The amount will reflect in customer bills in the month of January 2025.

Fuel charge adjustments are incurred by utilities due to global variations in fuel prices used to generate electricity, and the changes in generation mix. These costs are reflected in customer bills following NEPRA’s scrutiny and approval. Customers also benefit from negative FCA in their bills when global fuel prices decrease. Rates charged to customer bills are determined by NEPRA and notified by the Federal Government.

As per the Regulatory Authority’s decision, FCA shall be applicable to all the consumer categories except Electric Vehicle Charging Stations (EVCS), lifeline consumers and Prepaid metering consumers.

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 power utility in Pakistan supplying electricity to Karachi and its adjoining areas. The majority shares (66.4%) of the Company are owned by KES Power, a consortium of investors including Al-Jomaih 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 shareholder (24.36%) in the Company while the remaining are listed as free float shares.