According to NEPRA, total power generation stood at 13,430 GWh in Jun’26, down 2.3% YoY but up 6.3% MoM as seasonal summer demand began to materialize. The annual decline was primarily driven by lower hydel generation, whereas the sequential improvement was largely supported by higher RLNG-based dispatch.
On a cumulative basis, FY26 power generation reached 128,700 GWh, up 1.2% YoY, with imported coal (+51.6% YoY), RFO (+153.5% YoY), and wind (+16.6% YoY) emerging as the key contributors to overall growth.
Hydel generation totaled 5,242 GWh, declining 3.1% YoY but increasing 24.7% MoM as water inflows normalized following the seasonal peak in snowmelt during the previous month. Despite the annual decline, hydel remained the single largest source of electricity generation, accounting for roughly one-third of the country’s power mix.
Nuclear generation rose 30.2% YoY to 1,800 GWh and remained broadly unchanged on a monthly basis, primarily supported by the restoration of Chashma-IV, which contributed 144 GWh during the month compared to just 6 GWh in the preceding month.
Imported coal-based generation increased to 1,699 GWh, up 21.6% YoY while remaining broadly stable (-0.8% MoM). The increase reflects greater reliance on imported coal plants to offset lower RLNG availability earlier in the year, lifting imported coal’s share in the generation mix to 12.7% from 10.2% in Jun’25. The improvement was largely led by China Hub Power Generation Company (CPHGC), whose dispatch increased to 163 GWh at a 17% load factor, compared with 74.7 GWh at an 8% load factor in the same period last year.
§ RLNG-based generation stood at 1,480 GWh, remaining broadly flat on a monthly basis following 1,493 GWh in May’26, supported by the procurement of four LNG spot cargoes during the month. However, generation remained 33.2% lower YoY, reflecting continued moderation in RLNG utilization compared with the elevated base of last year
Local coal generation declined to 1,358 GWh, down 10.0% YoY and 7.9% MoM, primarily due to lower dispatch from Thar Coal Block-I and Engro Powergen Thar, where generation fell to 682.7 GWh (from 756.3 GWh in May’26) and 323.9 GWh (from 359 GWh), respectively.
Gas-based generation posted a decline to 867 GWh, down 10.4% YoY and 17.4% MoM.
Wind power surged 29.5% YoY and 1.7% MoM, aided by favorable seasonal conditions. Solar posted modest growth of 3.8% YoY while declining 7.6% MoM.
Courtesy – AL Habib Capital Markets Pvt Ltd
