Home Business & Finance K-Electric is committed to industrial growth and Karachi

K-Electric is committed to industrial growth and Karachi

0

KARACHI: K-Electric has been in close contact with the leading business associations and entities of Karachi since beginning of COVID-19 and resulting lockdown. KE representatives had these meetings to highlight the challenges on power supply situation in Karachi. The meetings were held with KIF, KATI, SITE, FBATI, SSHATI, NKATI and Pak Fisheries among others.

The peak energy demand crossed 3500 MW due to high temperatures and humidity in Karachi, the power supply remained affected due to shortage of fuel supply to KE and IPPs that supply energy to the KE. The power generation also faced challenges on the wind and solar renewables side, reason being overcast skies and low wind pressure. The issue was further compounded due to non-availability of KANNUP power plant since start of July 2020. This very gap between the supply and demand has necessitated load management regime especially during the night when discretionary electricity demand is high, KE informed the industry associations.

While KE has always unequivocally supported industries and prioritised services to them by becoming the first utility in Pakistan to implement 100% load-shed exemption to industries, the current shortage situation is unprecedented. KE has to extend all possible relief to residents during late hours in the night and hence appreciates the support and patience of industries in these challenging times. While the company has been striving to ensure maximum supply, it is however highly dependent on the provision of required fuel to both KE and the IPPs.

KE has been consistently briefing leaders of Karachi based industries on the importance of power supply to residential consumers given the COVID-19 pandemic, even though this decision negatively impacts the company’s financial position, cashflows and profitability.

The power utility also briefed industrial stakeholders about its plans to meet the demand growth for electricity and future investment plans of the company. KE will invest over USD 2.0 billion in additional generation and downstream power infrastructure over the next 3 years. Also, a new 900MW RLNG based power plant will be ready to be commissioned by 2021. KE is also working on interconnections to evacuate additional 1400MW from the National Grid in the coming years, the approval for which was only received last month by the CCOE.

Load More Related Articles
Load More By Rafiq Vayani
Load More In Business & Finance

Check Also

Ahmed bin Saeed Al Maktoum opens PwC’s new regional office in Dubai

DUBAI: His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emi…