Table of Contents
Table of Contents 2
List of Tables 7
Company Snapshot 8
Key Information 8
Company Overview 8
SWOT Snapshot 8
Operational Metrics 9
K-Electric Ltd, Operational Metrics, By Capacity 9
K-Electric Ltd, Operational Metrics, By Generation 9
K-Electric Ltd, Operational Metrics, By Transmission 9
K-Electric Ltd, Operational Metrics, By Distribution 9
K-Electric Ltd, Operational Metrics, By Sales 10
K-Electric Ltd, Operational Metrics, By T&D Losses 10
K-Electric Ltd, Solar PV Parks 11
K-Electric Ltd, Solar PV Parks, Pakistan 11
K-Electric Ltd, Hydro Power Plants 12
K-Electric Ltd, Hydro Power Plants, Pakistan 12
K-Electric Ltd, Biopower Plants 13
K-Electric Ltd, Biopower Plants, Pakistan 13
K-Electric Ltd, Thermal Power Plants 14
K-Electric Ltd, Thermal Power Plants, Pakistan 14
Business Description 16
Business Overview 16
Major Products and Services 17
History 18
SWOT Analysis 23
Overview 23
K-Electric Ltd Strengths 23
Energy Conservation Programs 23
Market Position 23
Operational Performance 23
K-Electric Ltd Weaknesses 24
Working Capital Deficit 24
K-Electric Ltd Opportunities 24
Demand for Electricity 24
Thermal Energy Market 24
Power Generation Expansion Plans 24
K-Electric Ltd Threats 24
Transmission and Distribution Network Safety 24
High Generation Costs 24
Environmental Laws and Regulations 24
Financial Ratios – Capital Market Ratios 26
Financial Ratios – Annual Ratios 26
Financial Ratios – Interim Ratios 28
Key Employees 29
Key Employee Biographies 30
Locations And Subsidiaries 32
Head Office 32
Financial Deals Landscape 33
K-Electric Ltd, Deals Summary 33
K-Electric Ltd, Power, Deal Details 34
Asset Transactions 34
Datang Pakistan Karachi Power Announcing Project Financing for Coal Fired Power Project in Karachi, Pakistan 34
Recent Developments 35
K-Electric Ltd – Recent Developments 35
Apr 04, 2014: NEPRA approves KE’s Licensee Proposed Modification for Coal Conversion Project 35
Jul 10, 2017: K-Electric Unveils Plan for US$ 1bn 900 MW Power Project 35
Feb 13, 2017: K-Electric Facilitates Customers Seeking New Electricity Connection 36
Sep 27, 2016: K-Electric presents its tariff petition 36
Sep 24, 2015: KE Signs MoU with Kashif Iqbal Thalassemia Care Centre (KITCC) for free electricity 37
Sep 14, 2015: K-Electric signs a Joint Development Agreement with China Datang Overseas Investment Company & China Machinery Engineering Company 37
Mar 08, 2015: Pakistan’ Bahria Town inks agreement with K-Electric for power projects in Karachi 38
Jan 27, 2015: K-Electric signs Accord signed with China’s CMEC for 700 MW Power Projects – K-Electric 38
Jan 02, 2015: Attock Cement to establish 40MW coal-fired power plant in Pakistan 38
Jan 07, 2014: Synthesis Energy Systems, GE Packaged Power, ISTROENERGO and TUTEN Sign First LOI in Power Vertical Sector With Karachi Electric Supply Company 38
May 08, 2013: KESC Signs MoU With SECMC To Jointly Pursue 600 MW Thar Coal Power Project 39
May 04, 2013: KESC And Philips Pakistan Sign MoU For LED Lighting Solution 40
Apr 12, 2012: KESC Signs MoU With ABAD To Develop Energy Efficient Structures For Buildings 40
Mar 06, 2011: KESC Forms Partnership With British Company For Thar Coal Power Project 40
Dec 18, 2010: KESC And CNMIEC Sign MoU For Sonda Jherruck Project 40
Aug 09, 2017: K-Electric Announces Financial Results for FY2016: Reports 15.6% Growth in Profit 40
Oct 25, 2017: KE Meters In Line With Global Standards; No Remote Tampering Possible 41
Oct 10, 2017: I-MYT Determination Impairs Viability Of KE’s Business Plan; Will Have Far Reaching Implications On Power Situation Of Karachi With No Impact On Consumer-End Tariff: K-Electric 41
Oct 09, 2017: K-Electric Promotes Energy Conservation During Magnifi-Science Exhibition 2017 42
Oct 04, 2017: Power distribution firms incur losses of Rs132bln in FY16 Listen: Islamabad Electric Supply Company 42
Sep 26, 2017: Nepra cuts power tariff by Rs1.82/unit 42
Sep 17, 2017: Pakistani Investors Aim For LNG Import Terminal In Early 2019 42
Aug 19, 2017: Pakistan may reduce power tariff by Rs1.71 per unit 43
Aug 13, 2017: K-Electric Facilitates Customers For New Connections And Promotes Energy Conservation At 4th Abad Expo 43
Aug 10, 2017: K-Electric Notifies Pakistan Stock Exchange For Development Of 900 MW BQPS-III 43
Jul 14, 2017: K-Electric Reiterates Its Commitment To Meet City’s Growing Power Demand 44
Jul 13, 2017: K-Electric Presents Its Review Motion In Response To NEPRA’s Multi-Year Tariff (MYT) Determination 2017 44
Jun 21, 2017: Pakistan’s Nepra approves a tariff reduction of PKR1.90 per unit for state-owned power discoms’ consumers 45
Jun 08, 2017: Pakistan Apparel Forum demands government to probe into unannounced industrial loadshedding by K-Electric in Karachi 45
Mar 31, 2017: K-Electric Billing Fully Compliant With Regulatory Guidelines 45
Mar 08, 2017: K-Electric Continues To Streamline Reliability Of Power Supply In Different Areas Under Project Ujala 46
Feb 10, 2017: Determination of the Authority in the matter of Tariff Petition tiled by Sindh Transmission and Dispatch Company (Private) Ltd. (ST&DCPL) for the Determination of Tariff for 132 kV Transmission Line Project 46
Feb 09, 2017: K-Electric Initiates Construction Of Port Qasim Grid Station With US$ 71 Million 47
Feb 03, 2017: K-Electric Further Strengthens Power Supply To Husaini’s Emergency Center 47
Jan 06, 2017: K-Electric Continues To Enhance Reliability Of Power Supply Across Its Network 48
Nov 15, 2016: K-Electric’s Project Ujala in full swing; 165 PMTs converted on ABC last week 48
Nov 14, 2016: K-Electric to Implement ISO 50001 Energy Management Plan 48
Nov 08, 2016: K-Electric to further improve reliability of power supply in Keamari with project Ujala 49
Nov 04, 2016: STDC’s Nooriabad gas fired power plant likely to supply 100MW by December 2016 49
Oct 14, 2016: KE Makes New Connection Process Easier Than Ever Before 50
Oct 07, 2016: K-Electric removes kunda connections in Madina Town, offers low-cost meters 50
Sep 28, 2016: K-Electric reiterates its commitment to meet city’s growing power demand 50
Sep 21, 2016: K-Electric launches its Aerial Bundle Cable initiative in Metroville, Orangi 50
Sep 20, 2016: KE provides over 100 new Low-Cost connections in Gulshan-e-Bihar, Orangi 51
Sep 09, 2016: K-Electric further strengthens power supply to JPMC 51
Sep 07, 2016: K-Electric installs new PMT at Kashif Iqbal Thalassemia care centre 51
Sep 03, 2016: K-Electric to power 800 new households in Chishti Nagar 51
Aug 18, 2016: K-Electric implements GENESYS to enhance customer services 52
Aug 15, 2016: KE investments continue; New Transformer at Aga Khan Grid to improve electricity supply to Baloch Colony, Bahadurabad, PECHS & adjoining areas 52
Jun 16, 2016: K-Electric expands its social investment programme 52
Jun 07, 2016: K-Electric upgraded 400 KVa Dedicated Pole-mounted transformer 53
Jun 03, 2016: K-Electric Energy Supply Increases 53
May 20, 2016: Fault in Queens Road Grid Station rectified: K-Electric 54
Mar 09, 2016: K-Electric to Provide New Connections to Sadr Cooperative Market 54
Feb 26, 2016: K-Electric successfully installs Aerial Bundle Cable (ABC) in Rehmat Chowk Orangi 54
Jan 20, 2016: K-Electric Successfully Completes Installation of its Anti-Theft Cable in Baldia’s Gulshan-e-Mazdoor 54
Jan 15, 2016: K-Electric acquires land for the 700 MW Coal-Fired Project as per commitment 55
Dec 14, 2015: Minister for Water & Power Khawaja Asif inaugurates K-Electric’s TP-1000 Project 55
Nov 14, 2015: K-E appoints new CMO 55
Nov 13, 2015: K-Electric appoints New Chief Marketing Officer 56
Nov 02, 2015: Siddique appointed KE chairman 56
Oct 21, 2015: OPIC to finance up to $250 million in support of K-Electric 56
Oct 04, 2015: K-Electric’s Chief Marketing Officer Resigns 57
Sep 17, 2015: OPIC Board of Directors Approves Over $1 billion in Financing for U.S.-led Development Projects Worldwide 57
Jul 27, 2015: Uninterrupted Power Supplied To Water Pumping Stations 58
Jul 27, 2015: K-Electric Ensures Continuous Power Supply across the City 58
Jul 14, 2015: K-Electric chairman seeks resignation from CEO 58
Jul 13, 2015: High unaccounted for demand and humidity trips the Bin Qasim Transmission Line: K-Electric 58
Jul 12, 2015: Unforeseen tripping on Bin Qasim/Pipri 220 KV transmission line 59
Jul 08, 2015: KE reinforces it’s “deep consumer commitment” despite unforeseen breakdown of 500 KV transmission line 59
Jun 29, 2015: Resignation Of Tabish Gauhar, A Baseless Rumor 60
Jun 12, 2015: Operation Burq – Raids continue night and day against electricity thieves 60
Jun 11, 2015: Operation Burq – KE’s team along with LEAs raid 34 different spots 60
May 29, 2015: Operation Burq – Almost 4000 illegal connections removed whereas defaulters and electricity thieves taken away for investigation 61
May 28, 2015: Operation Burq – Almost 6,700 illegal connections removed whereas defaulters and electricity thieves taken away for investigation 61
Apr 21, 2015: K-Electric continues to take stern action against defaulters 61
Apr 16, 2015: Under its Social Investment Program KE will provide free electricity to Family Educational Services Foundation (FESF) 62
Apr 10, 2015: K-Electric Submits Request to NEPRA for Tariff Reduction 62
Apr 08, 2015: KE successfully adds 132 KV Aga Khan University Grid Station, worth PKR 1 billion, to its system 62
Mar 16, 2015: KE’s 420 MW Coal Conversion Project – NEPRA finally gives Generation License 62
Mar 12, 2015: K-Electric Extends the Due Date of Bill Payments 63
Jan 25, 2015: NTDC’s 500kv Line Trips Causes Power Breakdown in most parts of Pakistan 63
Jan 16, 2015: Pakistan likely to renew 650MW supply agreement with K-Electric 63
Jan 01, 2015: No Power Outage or load shed at Abbasi Shaheed Hospital; K-Electric’s Spokesperson 64
Jan 01, 2015: KE successfully installs Poles and Aerial Bundled Cables for Under-Privileged residents of Gulshan – e – Sikandarabad, Keamari 64
Dec 31, 2014: KE waives off outstanding electricity dues of Timber Market affectees 64
Dec 27, 2014: K-Electric Submits another request to NEPRA for another Reduction of Rs.1.64 in its tariff 64
Dec 21, 2014: Tripping in the National grid puts major areas of Sind, including Karachi and Baluchistan into darkness KE’s network tripped due to breakdown of NTDC’s transmission line – KE’s spokesperson 65
Dec 19, 2014: K-Electric rejects baseless allegations made by Minister for Water and Power 65
Dec 12, 2014: K Electric Extends the due date of bill payments 66
Dec 05, 2014: K-Electric Submits Request to NEPRA for Tariff Reduction 66
Dec 02, 2014: JCR-VIS Upgrades Ratings of K-Electric Ltd; Continuous improvement in KE’s operational metrics – JCR-VIS 66
Nov 27, 2014: K-Electric BoD ratifies various accords of bringing new capacity of 850 MWs 66
Nov 27, 2014: K-Electric’s Board of Directors appoints Tayyab Tareen as new Chief Executive Officer 67
Nov 20, 2014: NIB Bank signs first ever agreement in Pakistan with K-Electric for e-payment of bills 67
Oct 02, 2014: K-Electric Removes more than 350 Illegal Hook Connections in Lines Area 67
Sep 05, 2014: KE to provide free electricity to APWA Rana Liaquat Craftsmen Colony; RLCC becomes KE’s 12 partner in its Social Investment Program 68
Aug 22, 2014: K- Electric becomes the first ever distribution facility in Pakistan to get ISO 9001-2008 Certificate 68
Jul 09, 2014: K-Electric & FIA Conduct another Successful Raid in Nazimabad; Theft of Electricity Worth Rs. 15.6 Million caught 69
May 26, 2014: K-Electric inaugurates Installation of ABC Project in Liaqutabad Town; Initiative will help reduce losses and theft – KE 69
May 19, 2014: KE installs more than 500 new meters for the under-privileged in Maunch Goth, Musharaff Colony Baldia & Mehmoodabad 69
May 05, 2014: KE successfully completes 2nd phase of Low-Cost meter installation in under-privileged areas 70
Apr 16, 2014: KE to successfully install 500 Low-Cost meters for under-privileged residents 70
Dec 24, 2013: KESC renews accord to provide 50% subsidized electricity to Indus Hospital after successful completion of first term 71
Dec 07, 2013: KESC seeks Nepra approval to de-commission three power units totaling 175MW capacity 71
Sep 23, 2013: KESC, Siemens & the Aga Khan Foundation jointly start construction of the new 132-KV Grid Station 71
Sep 04, 2013: SSGC cuts gas supply to KESC down to 150 MMCFD; Power utility appeals to the Fed Gov’t for restoration of 220 MMCFD level 72
Aug 15, 2013: Dhabeji Pumping Station’s shutdown was arranged with prior permission of KWSB; KESC 72
Jul 22, 2013: KESC To Restore Power Supply To Pakistan Steel After Payment Of Rs. 93 Crore Arrears By Aug.7 72
Jul 06, 2013: IFC Sign Agreement With KESC And Aman Foundation Led Initiative 72
May 19, 2013: KESC Says Gas Curtailment And Low Gas Pressure Adversely Impacted Power Generation 73
Apr 30, 2013: KESC And Siemens Pakistan Sign Settlement Agreement To Close Long Outstanding Legal Suits 73
Apr 24, 2013: KESC To Procure Power From Azad Pattan And Ashkot Hydropower Projects In Pakistan 73
Feb 12, 2013: KESC Appoints Tabish Gauhar As Board Chairman And Nayyer Hussain As CEO 74
Feb 10, 2013: KESC To Install New 132kV Double Circuit Overhead Transmission Line At Clifton Grid Station In Pakistan 74
Nov 27, 2012: KESC Disconnects Power To 11 Major Defaulting Offices 74
Nov 23, 2012: KESC Says Curtailing 650 MW From NTDC’s Supply Will Result In Ripple Effect 74
Nov 12, 2012: IFC Signs Cooperation Agreement On KESC And Aman Foundation Led Bio-Waste To Energy Project In Karachi, Pakistan 75
Nov 07, 2012: KESC Announces Investment Plan Of $400m To Enhance System Capacity And Efficiency 76
Sep 19, 2012: SSGC Reduces Gas Supply To KESC 76
Aug 05, 2012: Unexpected Tripping Of 220kV EHT Circuits Leads To Extensive Power Outage In Karachi: KESC 76
Jul 03, 2012: KESC Converting PMTs And Consumer Connections Into High Tension ABC Cable Based Supply System In Karachi, Pakistan 77
Apr 16, 2012: KESC’s Bin Qasim Power Station-II Achieves Full Load 77
Oct 14, 2011: KESC’s Korangi Combined Cycle Power Plant In Pakistan Receives ISO Certification 78
Oct 04, 2011: KESC Normalizes Load Shedding Schedule In Karachi, Pakistan 78
Sep 20, 2011: KESC Asks SSGC To Provide Enough Gas Pressure To Power Generation Plants 78
Aug 27, 2011: KESC Tests Second Gas Turbine For Firing On Gas At BQPS-II Power Project 79
Aug 17, 2011: KESC Develops Project To Convert Bin Qasim Power Station Into Coal-fired Power Station 79
Jun 08, 2011: Fuel Shortage Forces Increase In Load Shedding: KESC 79
Apr 27, 2011: KESC Announces Update On Furnace Oil Supply From PSO 80
Apr 21, 2011: KESC Expresses Concern Over NEPRA Announcement On Rise In Electricity Tariff 80
Apr 18, 2011: KESC Inaugurates Water Purification Plant At Korangi Sector 10 80
Apr 13, 2011: KESC Announces Update On Supply Of Additional Furnace Oil Under Gas Load Management Program 81
Mar 12, 2011: KESC Announces Update On Gas Supply To Power Projects 81
Mar 04, 2011: KESC Pays PKR30 Billion To PEPCO For Electricity Purchase 81
Mar 01, 2011: KESC Says Increase In Price Of Furnace Oil Will Have Negative Impact On Electricity Tariff 81
Feb 02, 2011: KESC Launches Aerial Bundle Cable Pilot Project 82
Dec 02, 2010: KESC Launches Integrated Business Center At Qayyumabad In Karachi, Pakistan 82
Nov 21, 2010: KANUPP Halts Supply Of Electricity To KESC 82
Nov 21, 2010: KESC Announces Non-Availability Of Electricity To Karachi Consumers From Turkish Power Ship 82
Oct 25, 2010: SSGC Further Decreases Gas Supply To KESC 83
Oct 25, 2010: KANUPP Halts Supply Of Electricity To KESC 83
Jul 03, 2010: KESC Announces Arrival Of First Gas Turbine For 560MW Power Plant In Karachi, Pakistan 83
Jun 21, 2010: KESC Suffers Loss Of PKR35.8 Billion Due To T&D Losses 83
May 05, 2010: KESC Receives 24-Hour Deadline For Operation Of 300MW Bim Qasim Power Plant 83
Apr 21, 2010: KESC Removes 294 Management Cadre Employees From Service 83
Apr 06, 2010: KESC Adds 15MW Of Coal-Fired Power To Distribution Network 84
Mar 24, 2010: PAEC’s KANUPP Back Online And Connected To KESC Grid 84
Mar 08, 2010: KESC Completes PKR20 Million Electrification Project 84
Mar 06, 2010: KESC’s Shuts Donw Combined Cycle Power Project In Korangi, Pakistan 84
Feb 25, 2010: KESC To Open Combined Cycle Power Project In Korangi, Pakistan 84
Feb 25, 2010: KESC Responds To Criticism On Decommissioning Of Seven Gas-Fired Units 84
Feb 16, 2010: KESC Completes Electrification Of Dilfulabad Village In Pakistan 85
Jan 13, 2010: KESC Inaugurates 25 MW Aggreko Rental Plant at Haroonabad, Pakistan 85
Jul 29, 2009: KESC’s Karachi Nuclear Power Plant Not Yet Returned To Online 86
Jul 08, 2009: KESC To Generate Power From Thar Coal Within Two To Three Years 86
May 21, 2009: KESC To Augment Production Capacity With Addition Of 560 MW Power Station In Karachi 87
Jan 07, 2009: KESC Increases Power Generation At Its Bin Qasim TPS 87
Aug 01, 2017: K-Electric And Government Of Sindh Ink MoU To Promote Energy Conservation 87
Feb 20, 2017: K-Electric Collaborates With Oursun Pakistan For 50MW Solar Power Project 88
Oct 03, 2016: K-Electric Signs $3.5 Mn Agreement: New 132 KV Underground Transmission line to be laid in DHA 88
Mar 29, 2016: K-Electric to lay a new 132 KV Underground Circuit from Queens Road Grid Station to Old Town Grid Station 88
Mar 02, 2016: K-Electric inks $8m deal for upgrading transmission network in Karachi, Pakistan 89
Feb 18, 2016: K-Electric initials Power Purchase Agreement (PPA) with Sind Nooriabad Power Company 89
Feb 17, 2016: K-Electric Signs Accord with Attock Cement for Additional Supply of 16 MW 89
Nov 02, 2015: K-Electric & WWF enter MoU for Earth Hour City Challenge 89
Apr 16, 2015: KE to provide 40 MW to DG Cement Ltd for their new Cement Plant 90
Dec 18, 2014: K-Electric Signs Accord with Engro to boost power generation through LNG 90
May 06, 2014: K-Electric to provide free electricity to SOS Children’s Village Karachi ; 10th accord under Social Investment Plan signed 90
Apr 23, 2014: KE signs accord for stable gas supply & repayment of arrears with SSGC 91
Jan 20, 2014: KE & InfoTech Pakistan sign agreement to deploy a Smart Grid Technology Platform from Oracle This along with smart meters will help in monitoring network & reducing energy losses – KE 91
Nov 08, 2013: KESC’s Coal Conversion Project accomplishes major breakthrough Agreement signed with Harbin Electric of China to convert 2 units of Bin Qasim plant to coal 92
Nov 08, 2013: KESC&039;s Coal Conversion Project accomplishes major breakthrough; Agreement signed with Harbin Electric of China to convert 2 units of Bin Qasim plant to coal 92
Mar 20, 2013: GE To Provide Gas Turbine Maintenance Service For KESC’s Bin Qasim Power Station-II In Pakistan 93
Feb 20, 2013: KESC To Supply 50 MW Of Uninterrupted Electricity To Pakistan Textile City 93
Feb 04, 2013: Siemens Selected By KESC To Establish 132kV GIS Grid Station At AKHMCF Premises In Pakistan 93
Jan 28, 2013: KESC To Supply Additional 4 MW Of Power To EPZA In Pakistan 93
Nov 13, 2012: KESC Signs Contracts With IEG And GEJB For Combined Cycle Gas Turbine Power Plant Servicing At Korangi, Pakistan 93
Aug 10, 2012: KESC Signs MoU With Bright Eagle Enterprise To Set Up Coal-fired Power Projects In Karachi, Pakistan 94
Jun 25, 2012: KESC Signs Accord With SCEL And Oracle Coalfields To Establish Coal-based Power Plant 94
Feb 19, 2012: KESC Signs $200m Joint Development Agreement With BEE For Phase I Of Bin Qasim Coal Conversion Project 94
Feb 07, 2011: KESC And GMCL Sign MoU To Convert Two Units Of Oil-Fired Bin Qasim Power Station To Coal 95
Oct 06, 2010: KESC Signs MoU With KUTC For Revival Of Karachi Circular Railway 95
Mar 06, 2010: TSML Signs Contract With KESC To Provide 14MW Of Electricity 95
Jan 19, 2009: KESC Reduces Power Purchase From Private Power Producers 95
Nov 25, 2008: GE Wins Contract To Supply 64 Gas Engines To KESC 96
Appendix 97
Report Scope 97
GlobalData Coverage 97
Benchmarking 97
GlobalData’s Methodology 97
Secondary Research 97
Primary Research 98
Contact Us 98
Disclaimer 98
K-Electric Ltd, Key Facts 8
K-Electric Ltd, Operational Metrics, Capacity 9
K-Electric Ltd, Operational Metrics, Generation 9
K-Electric Ltd, Operational Metrics, Transmission 9
K-Electric Ltd, Operational Metrics, Distribution 9
K-Electric Ltd, Operational Metrics, Sales 10
K-Electric Ltd, Operational Metrics, T&D Losses 10
K-Electric Ltd, Solar PV Parks, Pakistan 11
K-Electric Ltd, Hydro Power Plants, Pakistan 12
K-Electric Ltd, Biopower Plants, Pakistan 13
K-Electric Ltd, Thermal Power Plants, Pakistan 14
Major Products and Services 17
K-Electric Ltd, SWOT Analysis 23
K-Electric Ltd, Ratios based on current share price 26
K-Electric Ltd, Annual Ratios 26
K-Electric Ltd, Interim Ratios 28
K-Electric Ltd, Key Employees 29
K-Electric Ltd, Deals Summary 33
Datang Pakistan Karachi Power Announcing Project Financing for Coal Fired Power Project in Karachi, Pakistan 34
