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Articles for tag: Complete, deals, Govt, IPP, Negotiations, RS3.5TR, save, working

March 27, 2025

News Desk

Govt working to complete the negotiations to save RS3.5TR on more IPP deals

The reproduction image shows an electricity transformer. – Reuters/file Senator Mohsin Aziz accuses IPPS of excessive offer. Govt has terminated six IPP contracts since July 2024. Revised agreements have been signed for 12,000 MW. ISLAMABAD: The government is working to finalize negotiations with 75 more electricity producers – mainly solar and wind – by the end of April or May, after completing the talks with 29 independent electricity producers (IPPs) that would save RS3,498 trillion Federal Minister of Power Awais Leghari. When informing a parliamentary committee, The news He said Leghari added that the government also worked in a plan

October 6, 2024

News Desk

Energy Minister, CEOs, experts weigh in on controversial IPP issue

Federal Minister of Energy (Department of Power) Awais Leghari, along with top private power company executives and economists, are looking into the contentious issue of Independent Power Producer (IPP) capacity payments in Geo News talk show “Great Debate: Pakistan Kay Liye Kar Dalo”. In the discussion anchored by senior journalist, analyst and anchor Shahzad Iqbal, Leghari referred to the growing public outcry over soaring electricity bills and the ongoing debate on capacity payment charges (CPC) to IPPs. He acknowledged the need for a thorough review of these agreements, hinting that the government is open to exploring ways to renegotiate terms

September 23, 2024

News Desk

Five IPP owners have asked to terminate the PPAs or face consequences

A representational image of a transmission tower, also known as a power pylon. — AFP/File The IPPs said the government has already overpaid them. The authorities point out that the IPPs found a breach of the agreement with the government. Four IPP owners were invited to meet with members of the task force. Islamabad: Owners of four Independent Power Producers (IPPs) established under the 1994 policy and another, established under the 2002 policy, have been warned of consequences if they do not voluntarily terminate their power purchase agreements and pay and resume operations. The News reported on Monday. “The government

September 6, 2024

News Desk

Chinese lenders agree on daily SOFR

Islamabad: Chinese lenders to independent power producers (IPPs) refused to accept the Secured Overnight Financing Rate (SOFR) Term but agreed to switch from the London Interbank Offered Rate (Libor) to the overnight SOFR. The issue was discussed during suo motu proceedings on Thursday on the transition from Libor to SOFR for calculating borrowing costs. The public hearing was informed that 22 IPPs had not yet submitted their response and would provide the response sometime later. He was asked if it will affect any decision of the National Electricity Regulatory Authority (Nepra). It has been revealed that the Chinese lenders did

September 4, 2024

News Desk

NEPRA blocks discussion on IPP contract extension

Islamabad: During a public hearing on Tuesday, the chairman of the National Electricity Regulatory Authority (NEPRA) barred speakers from discussing the regulator’s renewal of independent power producers (IPP) contracts. Intervenors addressed the issue of capacity payments charged by IPPs during a public hearing. When the case to extend their contracts was discussed, the chairman said that the matter did not pertain to the hearing in question. Meanwhile, the businessmen running these IPPs have called for a forensic audit of the IPPs. Despite the violation of an economic value order (EMO) for power generation from these plants, the National Electricity Regulatory

August 30, 2024

News Desk

Minister warns of ‘Reko Diq-like situation’ if IPP contracts unilaterally terminated

Federal Minister for Power Sardar Awais Ahmad Khan Leghari. — APP/File The minister says that the body, under his chairmanship, is looking into the issue of PPAs. Leghari says the government wants to get rid of IPPs that are no longer needed. He says good news about the IPPs in the pipeline for the country. Federal Power Minister Awais Leghari said the government cannot unilaterally terminate agreements with independent power producers (IPPs), warning that such a move would lead the country to face a “Reko Diq-like situation”. In 2019, Pakistan managed to escape an $11 billion penalty after reaching an

August 6, 2024

News Desk

Why is electricity so expensive in Pakistan?

Energy Minister Awais Leghari disclosed during a meeting of the Senate Standing Committee on Energy, chaired by Mohsin Aziz, that a power plant from an Independent Power Producer (IPP) costing Rs. 3 in 2016 now costs Rs. 285. This reflects an increase of 9600% in eight years. The meeting addressed growing concerns about IPP deals, with Minister Leghari stating that the government will no longer buy electricity directly, but consumers will buy it directly from producers. Reading Senate committee orders forensic review of IPPs The committee chairman highlighted the ongoing protests against IPPs and called for a forensic audit of

August 6, 2024

News Desk

Global companies will review IPP deals

Islamabad: With criticism of independent power producers (IPPs) mounting, Prime Minister Shehbaz Sharif has formed a task force to engage international companies to review agreements with IPPs and propose measures to reduce capacity payments. Currently, electricity consumers pay over Rs 2.2 trillion in capacity charges even to those IPPs which are closed and do not generate a single unit of electricity. It is surprising to note that the cost of power is Rs 9 per unit which the consumers pay in the power generating facilities, while in the non power generating facilities, they pay Rs 18 per unit due to

August 2, 2024

News Desk

Prime Minister Shehbaz promises the nation to reduce electricity prices in Pakistan

Listen to the article Prime Minister Shehbaz Sharif announced on Friday that reducing electricity prices was a top priority for the PML-N government and its allies. He emphasized that providing relief to electricity consumers was a key agenda for PML-N Chairman Muhammad Nawaz Sharif and his administration. Addressing a cabinet meeting, the Prime Minister emphasized the need to reduce electricity prices to boost Pakistan’s exports. He noted that both the agricultural and industrial sectors will find it difficult to expand without a reduction in electricity costs, stressing that competitiveness in industry is closely linked to lower energy prices. Sharif criticized

August 1, 2024

News Desk

Gohar Ejaz attacks power producers for charging billions without generating power

Former caretaker Commerce Minister Dr Gohar Ejaz criticized the Independent Power Producers (IPPs) for allegedly charging the government Rs 200 billion without generating a single unit of electricity. At a press conference in Islamabad, Dr Ejaz called for a forensic audit of these transactions and questioned the effectiveness of the country’s energy policies. According to Dr Ejaz, three power plants were paid a substantial amount of Rs 200 billion, despite producing zero units of electricity. He highlighted the frustration of the business community, which demands transparency and accountability in the energy sector. “The business community stands with the 240 million

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