Cost of power generation in Pakistan was up 9% while generation dipped 8% in February 2024.

The cost in February stood at an average of Rs8.7/KWh compared with an average cost of Rs8/KWh in the same period of the previous year, an increase of 9% YoY, said brokerage house Topline Securities on Tuesday.

On a yearly basis, the increase in fuel cost was witnessed due to rise in cost of nuclear (24%), coal (19%) and gas (23%).

The increase comes as rising electricity bills have become a headache for the country’s populace, who are already feeling the pinch of high inflation and slow economic activity.

Pakistan’s power generation cost sees 23% jump, generation dips in January

However, on a monthly basis, the cost of power generation has decreased 37%, as compared to an average cost of Rs13.8 in January.

Meanwhile, power generation in the country clocked in at 7,117 GWh in February 2024, 8% lower compared to the same period last year.

Back in February 2023, power generation stood at 7,756 GWh.

The year-on-year (YoY) decrease in power generation comes on the back of a decline in power generation from hydel and nuclear, which stood at 1,766 GWh and 1,660 GWh during February 2024, down by 14% and 12% YoY, respectively.

On a monthly basis, power generation decreased by 14%, as compared to 8,313 GWh registered in January.

During 8MFY24, power generation decreased by 1% YoY to 84,317 GWh, compared to 84,841 GWh during 8MFY23.

In February, hydel was the leading source of power generation, accounting for 24.8% of the generation mix, to become the largest source of electricity generation in the country. Followed by nuclear, which accounted for 23.3% of the overall generation, followed by RLNG which accounted for 20.4% of the power generation share.

Among renewables, wind, solar and bagasse generation amounted to 1.5%, 1.3% and 1.4% of the generation, respectively.