ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has announced a reduction in electricity prices under the monthly Fuel Price Adjustment (FCA), providing relief to consumers.

For consumers of government-owned Distribution Companies (DISCOs), the reduction is 75 paisas per unit for the month of November, while K-Electric customers will benefit from a 49 paisa reduction per unit for the month of October. This reduction follows a directive from Prime Minister Shehbaz Sharif in December 2024, who ordered a decrease in electricity prices and the immediate closure of outdated, inefficient power plants. During a review meeting on future electricity generation projects and the transmission system, the Prime Minister emphasized prioritizing low-cost energy projects that utilize Pakistan's local resources. He was briefed on ongoing hydropower projects, highlighting the importance of hydropower for providing low-cost and environmentally friendly energy. Furthermore, he stressed the potential of solar power, given Pakistan's abundant solar energy resources, and called for shifting existing energy capacity to solar energy. PM Shehbaz also ordered the immediate shutdown of power plants that consume excessive fuel while generating minimal electricity, aiming to save foreign exchange and lower costs for consumers.

He directed officials to accelerate reforms in the electricity transmission system, ensuring they meet international standards with modern technology. Additionally, he instructed strict actions against officials deliberately hindering these reforms, and emphasized the importance of completing all power sector reforms within the set timelines. In a separate development, NEPRA recently concluded the hearing of K-Electric's bid evaluation report for its 150 MW renewable energy projects in Balochistan. K-Electric has made significant strides in the renewable energy sector, having submitted the bid evaluation report for solar projects at Winder and Bela. The company aims to add 640 MW of renewable energy to its generation capacity, with the long-term goal of incorporating 1300 MW of sustainable energy into its mix by 2030. This is part of KE's broader renewable energy plan to integrate 30% renewable energy into its generation portfolio by 2030.