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Govt. Announces Relief of Rs. 231 Billion For Power Consumers

Morpheus

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Govt. Announces Relief of Rs. 231 Billion For Power Consumers

Posted 17 hours ago by Haroon Hayder




Power consumers are set to receive relief of Rs. 231 billion over the next three years as a result of a decrease in the rate of return for state-owned power plants and a change in the structure of LNG-based power plants.
According to the details, consumers will get a relief worth Rs. 100 billion due to a cut in the return rate of state-owned power plants, WAPDA projects, and GENCOS.

Whereas, consumers will receive a relief worth Rs. 131 billion on account of reduction in fuel cost after a change in the structure of LNG-based power plants.
It was revealed by Minister for Planning, Development and Special Initiatives, Asad Umar, during a recent cabinet meeting presided over by Prime Minister Imran Khan.
Asad Umar apprised the meeting that 3 LNG power plants had agreed a minimum 66% fuel offtake with LNG suppliers under the gas sale-purchase agreement.
Last month, during a meeting of the Cabinet Committee on Energy, the Power Division sought to repeal the minimum 66% fuel offtake clause from the sale-purchase agreement.

However, a 10% fuel offtake was agreed against the 17% proposed by NEPRA during negotiations with concerned stakeholders.
WAPDA, on the other hand, has argued that it would lose Rs. 16 billion in FY 2020-21 while timely completion of Diamer-Bhasha, Mohmand, and Dasu dams would be adversely impacted.

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