K-Electric’s distribution license has been granted a renewal for a duration of six months
The National Electric Power Regulatory Authority (Nepra) has granted a provisional six-month extension to K-Electric’s (KE) distribution license, which was set to expire on the present day (Thursday). KE has been informed about this decision. Nepra mentioned that the renewal of KE’s 20-year license will be decided after a public hearing.
KE had applied for a 20-year renewal of the license, but it has been provisionally extended for six months. In February, KE’s CEO, Syed Moonis Abdullah Alvi, stated that the company had requested a non-exclusive distribution license after the expiration of its current distribution exclusivity in June.
The move to unbundle power distribution aims to end KE’s monopoly in Karachi and create a competitive environment, potentially attracting other market players to invest. Alvi emphasized the importance of transitioning towards indigenous sources of power production in Pakistan’s future. KE has ambitious plans to invest billions of rupees to increase electricity availability to 900 megawatts before the summer of 2023.