NEPRA Approves K-Electric’s PAP for 2024-2028

NEPRA Approves K-Electric’s PAP for 2024-2028

Karachi, May 20, 2024 – K-Electric Limited (KEL) announced on Monday that the National Electric Power Regulatory Authority (NEPRA) has approved its Power Acquisition Programme (PAP) for the fiscal years 2024 to 2028.

This approval marks a significant step in KEL’s strategic planning to enhance power supply capabilities and ensure long-term energy sustainability in Karachi and surrounding areas.

KEL initially submitted its application to NEPRA on March 20, 2023, seeking approval for the PAP covering fiscal years 2023-24 through 2029-30. The application was in accordance with the Regulation of Generation, Transmission and Distribution of Electric Power Act, 1997, and aligned with the NEPRA (Electric Power Supplier) Regulations, 2022, and the NEPRA (Electric Power Procurement) Regulations, 2022.

The primary objective of KEL’s PAP is to establish a robust capacity expansion plan. This plan aims to meet the growing energy demands within its licensed service territory in a reliable, sustainable, and cost-effective manner. As the Supplier of Last Resort (SoLR), KEL is responsible for ensuring uninterrupted power supply to its consumers, and this program is a critical component of fulfilling that mandate.

KEL’s PAP outlines several strategic initiatives, including the acquisition of new power generation sources, upgrading existing infrastructure, and integrating renewable energy solutions. The program is designed to enhance the overall efficiency of the power supply chain, reduce transmission losses, and improve the reliability of electricity distribution across the region.

NEPRA’s approval signifies a thorough review and endorsement of KEL’s plans to address future energy needs. It reflects confidence in KEL’s strategy to not only meet but exceed regulatory standards and consumer expectations. The approval process involved extensive consultations and evaluations, ensuring that the proposed measures align with national energy policies and sustainability goals.

Fahad Mahmood, CEO of K-Electric, expressed his satisfaction with the approval, stating, “We are committed to delivering a reliable and sustainable energy future for Karachi. The approval of our Power Acquisition Programme by NEPRA is a testament to our dedication and strategic planning. This program will enable us to enhance our capacity and infrastructure to better serve our customers.”

The PAP also emphasizes the incorporation of advanced technologies and renewable energy sources, including solar and wind power, to diversify the energy mix and reduce carbon emissions. This aligns with global trends towards cleaner energy and supports Pakistan’s commitments to international climate agreements.

With NEPRA’s approval, K-Electric is poised to commence the implementation of its Power Acquisition Programme, paving the way for a more resilient and efficient energy framework that will support Karachi’s economic growth and development over the next five years.