CCoE approves Power Division’s proposals for future renewable energy investments

CCoE approves Power Division’s proposals for future renewable energy investments

ISLAMABAD: The Cabinet Committee on Energy (CCoE) approved on Wednesday, the proposals from Power Division providing for all future Renewable Energy (RE) investments to be treated in line with the RE Policy 2019 that envisages a framework consistent with the current international market norms and greater consumer benefits.

The Power Division informed that draft Renewable Energy Policy 2019 was currently in circulation for comments by stakeholders and would be presented to the CCoE as soon as such comments were finalized.

The CCoE meeting was presided over by Minister for Finance Asad Umar here.

All those projects which have been granted letters of support by Alternative Energy Development Board (AEDB), shall be permitted to proceed towards the achievement of their requisite milestones as per the RE Policy 2006.

However, in those cases where more than a year has elapsed since determination of tariff by NEPRA, their tariff would have to be reviewed by NEPRA as per policy.

The Power Division also gave the meeting performance update on efficiency improvement and control of theft. The meeting was informed that total collection from November 2017 to January 2018 stood at Rs 203,953 million which rose to Rs. 243,642 million in the same period in FY 2018-19, showing net increase of Rs 39,689 million.

Improved recovery from consumers and decrease in losses significantly contributed to the enhanced collection, the meeting was informed.

Regarding control of theft, CCoE was apprised that during the period from October 13, 2018 to February 22, 2019 as many as 20,712 FIRs were registered and 1909 arrests were made.

Detection bills charged amounted to Rs. 1,278.305 million while the amount of detection recovered was Rs 537.120 million. The CCoE appreciated the Power Division’s effective drive for recoveries and theft control.

The meeting also noted the progress shared by the Power Division on proposed plan/measures to bring down power sector losses.

Petroleum Division apprised the CCoE about findings of the committee probing into the matter of inflated gas bills. It was also informed that report of audit being conducted in this matter will also be shared with the CCoE.