January 22, 2024 (MLN): The National Electric Power Regulatory Authority (NEPRA) has approved the grant of Distribution License as well as the Supplier License to K-Electric Limited (PSX: KEL) for a period of 20 years, the company’s filing on PSX revealed today.
KEL was issued a Distribution License on July 21, 2003, that had a validity of 20 years.
This license encompassed the function of supplying electric power services and expired in July 2023.
However, in 2018, certain amendments were made to the Regulation of Generation, Transmission, and Distribution of Electric Power Act, 1997 (NEPRA Act) which required separate licenses for distribution and supply businesses.
Accordingly, prior to the expiry of the Distribution License in July 2023, and following the regulatory changes introduced in 2018, KEL filed separate license applications for Distribution and Electric Power Supply businesses.
NEPRA vide its order dated July 19, 2023, allowed provisional renewal of KEL's Distribution License for 6 months to ensure continuity of power supply to KEL's consumers.
