ISLAMABAD: In exchange for the government ending all pending legal actions and investigations into alleged excessive profits, seven independent power producers (IPPs) have promised to reduce energy rates by up to Re0.50 per unit and cancel over Rs11 billion in late payment fees.
The IPPs argued that fuel and operation and maintenance (O&M) cost recovery had already been resolved in a joint tariff revision request that was sent to the National Electric Power Regulatory Authority (Nepra).
They demanded that the regulator stop its relevant investigations and suo motu measures.
According to a representative of an IPP, the dismissal of all lawsuits against them was a prerequisite for their request for tariff modification.
