NEPRA Allows Partial Write-Off Claims of Rs. 50 Billion To K-Electric

The National Electric Power Regulatory Authority (NEPRA) has issued its decision on K-Electric’s (KE) write-off petition, allowing partial claims of Rs. 50 billion against the company’s claims worth Rs. 76 billion pertaining to the Multi-Year Tariff (MYT) control period spanning FY17 – FY23. According to K-Electric CEO Moonis Alvi, “With this decision, majority of items pending to the previous control period have come to a close. KE looks forward to the MYT for the control period spanning FY24 to FY30, committed to meeting its serviced territory’s energy needs.” The decision was released after public hearings and extensive deliberations that allowed all stakeholders to voice their concerns that were addressed by KE management. The submissions to NEPRA underwent strict internal scrutiny as well as external verification by well-accredited and renowned audit firms as required by the NEPRA in line with KE MYT 2017-2023. “These costs were part of the Multi-Year Tariff awarded to the utility for the period 2017-2023, and have been approved after stringent benchmarks, audits and fulfillment of conditions laid down by NEPRA in its tariff determination,” said Muhammad Aamir Ghaziani, Chief Financial Officer at KE.