KARACHI: The cost of generating electricity decreased by 10 per cent YoY, averaging Rs9.09 per kWh in December 2024, compared to Rs10.13 per kWh in December 2023.
Electricity generation totalled 7,800 GWh (10,484 MW), marking a slight 1.0 per cent year-on-year (YoY) increase compared to 7,726 GWh in the same period last year, according to power generation data released on Monday.
Nuclear power dominated Pakistan’s energy mix in December 2024, as total electricity generation remained stable during the month. “Power generation, however, remained 2.0 per cent lower than the reference level for the month,” noted Tahir Abbas, head of research at Arif Habib Limited (AHL).
On a month-on-month (MoM) basis, electricity generation decreased by 3.0 per cent compared to 8,032 GWh recorded in November. Nuclear power emerged as the top source of electricity, with generation surging by 41 per cent in December, while hydel power fell by 4.0 per cent. Electricity generation from re-gasified liquefied natural gas (RLNG) increased by 27 per cent, and gas-based generation rose by 16 per cent.
In the first half (July-December) of FY25, overall power generation declined by 3.0 per cent YoY to 66,641 GWh, compared to 68,982 GWh in the same period last year. Nuclear and hydel power generation fell by 3.0 per cent and 4. 0 per cent, respectively, during this period. RLNG-based generation dipped by 1.0 per cent, while gas-based generation rose by 3.0 per cent.
Abbas noted that the cost was also below the reference cost, attributing the decline to higher generation from nuclear and hydel sources, which are relatively cost-effective. Nuclear power accounted for 2,065 GWh or 26.5 per cent of the generation mix in December, making it the country’s leading source of electricity. Hydel power followed with a 22.8 per cent share, while RLNG accounted for 20.7 per cent.
Electricity generation from wind saw significant growth, contributing 3.4 per cent to the mix in December 2024, compared to 1.9 per cent in the same month last year. Solar and bagasse contributed 1.0 per cent and 1.3 per cent, respectively.
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