Karachi, July 06, 2024: The National Electric Power Regulatory Authority (NEPRA) has issued its decision regarding the Fuel Charges Adjustment (FCA) requested by KE for April 2024, indicating a benefit of PKR 1.67 per kWh to be passed on to customers in their July 2024 bills.
Earlier, NEPRA had notified a decision that specified the FCA rate of PKR 1.7111 per KWh and PKR 1.3946 per KWh, pertaining to July 2023 and September 2023 respectively, to be applied to customers’ July 2024 bills.
Fuel Charge Adjustments are incurred by utilities due to global variation in fuel prices used to generate electricity and change in generation mix. These costs are passed through to the consumers following NEPRA’s scrutiny and approval.
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.