Power firms’ performance remains subpar: regulator

ISLAMABAD: All the power distribution companies (Discos) including K-Electric showed poor performance during 2022-23 against set targets, resulting in cumulative financial losses of about Rs1 trillion a year and adding more than Rs350 billion to the circular debt. Based on performance evaluation reports (PERs) of the Discos including KE, the National Electric Power Regulatory Authority (Nepra) on Monday called for drastic structural changes in the power sector on an urgent basis to protect the industry from closure and consumers from affordable charges. “It is evident that the performance of Discos throughout this period remained subpar, and the expected power sector reforms were not achieved”, said the regulator in its PER 2022-23. The performance reviews were based on data provided by the Discos themselves in the areas of technical losses, recoveries, load-shedding, safety measures, installation of new connections, complaint redressals and other technical standards like frequency and load fluctuations etc. None of the companies could achieve the parameters relating to the frequency and duration of power failures and complaint resolutions. In terms of safety, more than 160 fatalities were reported in 2022-23 led by 33 in the KE system. Of the total, fatalities included 52 employees and 109 other citizens.