NEPRA upholds revised K-Electric tariff of PKR 32.37 per unit

Pakistan's power regulator has formally notified its revised tariff decisions for K-Electric, keeping the utility's average tariff at PKR 32.37 per unit for the multi-year tariff period covering fiscal 2024 through fiscal 2030.

The National Electric Power Regulatory Authority (NEPRA) issued the notification after the NEPRA Appellate Tribunal dismissed K-Electric's appeal against the regulator's revised tariff decisions, according to the regulator's announcement and a filing by K-Electric with the Pakistan Stock Exchange.

NEPRA had initially set K-Electric's average tariff at PKR 39.97 per unit for the seven-year control period. K-Electric and other stakeholders subsequently filed review petitions against the original tariff determination.

The regulator issued decisions on the review petitions on October 20, 2025, reducing the average tariff to PKR 32.37 per unit from PKR 39.97.

K-Electric challenged the revised tariff before the NEPRA Appellate Tribunal. After proceedings lasting about 11 months, the tribunal dismissed the company's appeal and upheld the PKR 32.37-per-unit average tariff, according to the information released by NEPRA.

The regulator's notifications cover review decisions relating to K-Electric's generation, transmission, distribution and supply tariffs.

K-Electric said the tribunal had announced a verbal order dismissing its appeals but that the written order had not yet been issued or communicated to the company.

"In pursuance of the Order of the NEPRA Appellate Tribunal … today a verbal order was announced where it was informed that K-Electric's appeals have been dismissed," the company said in a statement.

K-Electric said the development would have a "substantial adverse impact" on its Multi-Year Tariff for the FY2024-FY2030 control period and said the tariff was not financially sustainable for the company. The utility said it was awaiting the detailed written order from the tribunal before considering the legal remedies available to it.

In a separate filing to the Pakistan Stock Exchange, K-Electric said NEPRA had notified its October 20, 2025, review decisions pursuant to the appellate tribunal's order, which had yet to be communicated to the company.

The company said it appeared that the tribunal had not considered the views and submissions made by K-Electric's counsel while passing its order.

K-Electric reiterated that the development would have a substantial adverse impact on its MYT for FY2024 through FY2030 and was not financially sustainable for the company. The company said it would review the tribunal's written order once received and then consider pursuing available legal remedies.