Pakistan’s power generation rises 11% YoY in Feb

March 18, 2026 (MLN): Pakistan's power generation sector recorded a total output of 7,696 GWh in February 2026, up 11% year-on-year, though 16% lower month-on-month, according to data compiled by Arif Habib Limited.

For the fiscal year-to-date (8MFY26), generation totaled 84,192 GWh, up 3% from 81,738 GWh in the same period last year.

The average fuel cost rose 8% YoY to Rs8.15/KWh, attributed to a lower share of hydel and nuclear in the mix, offset partially by higher utilization of imported coal.

The increase in overall generation is believed to have been driven by stronger demand, supported by lower tariffs and a shift of industrial consumers to the national grid.

Hydroelectric power generated 1,783 GWh in February 2026, down 5% from 1,883 GWh in February 2025, with hydel's share in the generation mix declining to 23.2% from 27.1% YoY.

On a month-on-month basis, however, hydel surged 150% from January's 713 GWh, reflecting a strong seasonal recovery. Year-to-date hydel generation stands at 25,856 GWh, marginally down 1% from 26,115 GWh in 8MFY25.

Nuclear generation fell 22% YoY to 1,449 GWh in February, compared to 1,847 GWh in the same month last year. Nuclear's share in the generation mix declined to 18.8% from 26.6% in February 2025. Cumulatively for 8MFY26, nuclear output reached 15,170 GWh, up 1% from 14,952 GWh in 8MFY25.

Re-gasified Liquefied Natural Gas (RLNG) plants recorded a sharp 26% YoY decline in February, generating 729 GWh compared to 980 GWh last year. RLNG's share in the generation mix fell to 9.5% from 14.1%.

On a cumulative basis, 8MFY26 RLNG generation reached 13,273 GWh, down 6% from 14,162 GWh in 8MFY25.

Natural gas-fired plants delivered a stronger performance, generating 887 GWh in February, up 24% YoY from 716 GWh, with gas's share rising to 11.5% from 10.3%. Year-to-date gas generation reached 7,609 GWh, up 1% from 7,547 GWh.

Coal emerged as a notable shift in the generation mix. Local coal plants generated 1,231 GWh, up 18% YoY from 1,043 GWh, while imported coal plants surged dramatically to 1,150 GWh from just 108 GWh last year  a 965% YoY increase.

Combined, coal's share in the generation mix rose to 30.9% from 16.6% in February 2025. Year-to-date, local coal generation reached 9,982 GWh (up 3%) while imported coal stood at 7,760 GWh (up 47%).

Wind power continued its strong momentum with 251 GWh generated in February, up 44% YoY from 174 GWh. Wind's share increased to 3.3% from 2.5%. Cumulative wind generation for 8MFY26 reached 2,421 GWh, up 11% from 2,180 GWh last year.

Solar power generation rose 8% YoY to 92 GWh in February, maintaining a 1.2% share of total generation, with year-to-date solar output reaching 739 GWh, up 2% from 728 GWh in 8MFY25.

Pakistan Power Generation  February 2026 (GWh)

Source: NEPRA, AHL Research

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