Pak reviews hydro, nuclear power projects amid energy overcapacity concerns

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Pak reviews hydro, nuclear power projects amid energy overcapacity concerns - Business Standard

Quick Summary:

Pakistan is conducting a review of existing and upcoming power projects, including hydropower and nuclear plants, in response to concerns over energy overcapacity and pricing, which have led to financial strain, including high capacity payments to IPPs for unused power, media reports said on Saturday.

Maintaining that the review is aimed at assessing the viability and efficiency of these power projects as the country faces surplus energy production, the need to optimise power generation was stressed to align with current demand and ensure economic sustainability, newspaper The News International said.

The development comes amid reports that Pakistan government has reportedly disbursed approximately Rs1 trillion in capacity payments to 26 independent power producers (IPPs) using gas, regasified liquefied natural gas (RLNG), and residual furnace oil-based (RFO) over the past decade, starting from 2015, as per a report by the Business Recorder.