Pakistan's power generation rises 6.4% in November amid economic rebound

Pakistan's electric power generation increased by 6.4% in November 2024 due to a surge in economic activity, according to official data.

Power generation rose to 8,032 GWh in November, compared to the same month last year, marking the second consecutive increase.

However, in the first five months of the fiscal year, power generation fell by 4% to 58,840 GWh, compared to 61,260 GWh in the corresponding period last year.

The generation cost (fuel component), soared by 2% compared to the same month last year but was down 20% on a sequential basis due to a higher mix of hydel and nuclear power.

Over the five-month period, generation fuel costs increased by 4% to PKR 8.3 per unit.

An analyst at Arif Habib Limited (AHL) said actual power generation exceeded the reference generation by 0.8% for the second consecutive month, which is likely to positively affect the upcoming Quarterly Tariff Adjustment (QTA).

Hydel-based generation increased by 3.8% reaching 2,860 GWh, although it was down by 1.7% compared to the reference generation.

RLNG-based generation rose by 13.7% and was also 9.9% higher than the reference generation for the month.

Gas-based generation increased by 23.5% and was 42.3% higher than the reference generation. Nuclear-based generation grew by 5.3%.

Imported coal-based generation declined by 1.9% and local coal-based generation increased by 3.2%.

Solar witnessed significant growth, rising by 38% to 69 GWh and wind-based power declined 33.8%.