Karachi January 22 2024: NEPRA has renewed the power distribution and supply licenses of K-Electric for a period of 20 years, according to information shared by K-Electric.
This non-exclusive license renewal follows KE’s request for a non-exclusive license ahead of the liberalization of the power sector.
KE’s previous 20-year license had reached its term in July 2023. Subsequently, NEPRA had provided KE with an interim distribution license for six months, which was nearing its expiration in January 2024.
The decision for renewal followed a comprehensive hearing that concluded on 28 November 2023. Post-hearing, NEPRA has now authorized K-Electric to continue its power supply operations in Karachi, Uthal, Bela, Vinder, Hub, Dhabeji, and Gharo.
ABOUT K-ELECTRIC:
K-Electric (KE) is a public listed company incorporated in Pakistan in 1913 as KESC. Privatized in 2005, KE is the only vertically integrated utility in Pakistan supplying electricity within a 6500 square kilometers territory including Karachi and its adjoining areas. The majority shares (66.4%) of the company are listed in the PSX owned by KES Power, a consortium of investors including Aljomaih Power Limited of Saudi Arabia, National Industries Group (Holding), Kuwait, and the Infrastructure and Growth Capital Fund (IGCF). The Government of Pakistan is also a minority shareholder (24.36%) in the company.
