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NEPRA allows PEL-EPQL gas deal at $5.6127/MMBTU

EPQL's profit surges by 33.4% YoY to Rs585m in 3QFY24
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February 21, 2024 (MLN): The National Electric Power Regulatory Authority (NEPRA) on Tuesday approved the reference gas price of $ 5.6127/MMBTU for the sale of gas by Petroleum Exploration (Pvt) Limited (PEL) to Engro Powergen Qadirpur Limited (EPQL) from Badar-I, EPQL's filing on PSX revealed today. 

This development shall be subject to adjustment for applicable gas price for Badar-Il for each period and the exchange rate prevailing on the first day of each period.

Based on the prevailing exchange rate of July 04, 2023, of Rs286.40/USI, the equivalent HHV gas price works out to 1,607.48/MMBTU and accordingly the reference fuel cost component on low BTU PEL gas shall be Rs13.3626/kWh.

The company on November 08, 2022, submitted the subject Tariff Petition for modification in the fuel cost component, proposing the fuel cost component (PEL Gas) of Rs20.9027/kWh on Gas price of Rs2,514.526/mmbtu which is 70% of RLNG price of Rs. 3,592.1796/mmbtu being paid to National Power Parks Management Company (Private) Limited.

It is important to highlight that EPQL has been operating a dual fuel 226.52 MW (net 217,3 MW) power generation facility, with permeate gas obtained from the Qadirpur gas field as its primary fuel and high-speed diesel (HSIY) as secondary fuel.

The power plant is located at Ghotki, Sindh. EPQL was granted a Generation License dated July 27, 2007.

A Power Purchase Agreement (PPA) dated October 27, 2007,  was executed between EPQL and the National Transmission and Despatch Company Limited through the Central Power Purchasing Agency (CPPAG).

An Implementation Agreement dated  October 29, 2007, was executed between EPQL and the Private Power Infrastructure Board (PPIB) on behalf of the Government of Pakistan (GOP).

EQPL was granted a generation tariff vide decision dated July 19, 2007, and achieved commercial operations on March 27, 2010.

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Posted on: 2024-02-21T10:10:51+05:00