K-Electric Flags Significant Financial Impact From NEPRA Appellate Tribunal Order
K-Electric Limited (KEL) has informed shareholders, investors and market participants that a recent development concerning the National Electric Power Regulatory Authority (NEPRA) Appellate Tribunal could have a substantial adverse impact on the company’s Multi-Year Tariff (MYT) for the period from FY2024 to FY2030.
In a disclosure submitted to the Pakistan Stock Exchange (PSX) on September 24, 2026, K-Electric said the development follows its earlier announcement of April 7, 2026, regarding appeals filed against NEPRA’s decisions dated October 20, 2025.
According to the company, NEPRA has now notified the decisions referred to in the proceedings before the Appellate Tribunal. K-Electric stated that, based on the information available to it, the Tribunal’s order appears not to have considered the views and submissions presented by KEL’s counsel.
The company said the development would translate into a substantial adverse impact on its Multi-Year Tariff for the FY2024-FY2030 control period. K-Electric further stated that, in its assessment, the resulting tariff position is not financially sustainable for the company.
K-Electric has not yet indicated its final legal course of action. The company said it is awaiting receipt of the NEPRA Appellate Tribunal’s order, after which it will consider the legal remedies available to it.
The disclosure was made under Sections 96 and 131 of the Securities Act, 2015 and Regulation 5.6.1(a) of the Pakistan Stock Exchange Rule Book. The company submitted the information to the Securities and Exchange Commission of Pakistan and the Pakistan Stock Exchange for dissemination to market participants.
The latest disclosure highlights the importance of the ongoing regulatory and legal proceedings for K-Electric, particularly because the company’s stated concerns relate directly to its tariff framework for the FY2024-FY2030 control period. Further details and the company’s potential legal response are expected to become clearer once K-Electric receives and reviews the formal order of the NEPRA Appellate Tribunal.
