Pakistan’s power generation declined sharply by 9.6% YoY to 9,499 GWh in April 2026, compared to 10,513 GWh in the same month last year. Despite this, cumulative generation for 10MFY26 rose 2.0% YoY to 102,630 GWh. On a monthly basis, output improved 6.3% MoM, reflecting seasonal demand.

Generation remained below NEPRA reference levels, weighed down by government austerity measures, RLNG supply disruptions, and rising distributed generation, despite lower tariffs and industrial incentives. This shortfall is expected to trigger higher Quarterly Tariff Adjustments (QTAs) in the future.

Fuel costs averaged PKR 9.97/kWh, above the reference cost of PKR 8.25/kWh. Consequently, DISCOs have sought a positive Fuel Cost Adjustment (FCA) of PKR 1.73/kWh for April, driven by a heavier reliance on furnace oil (FO) and high‑speed diesel (HSD) generation amid elevated oil prices.

Courtesy- AHL Research