Business
NEPRA issues draft amendments to Solar Policy 2026 | The Express Tribune
Invites suggestions from stakeholders and partners within 30 days for further deliberation
ISLAMABAD:
The National Electric Power Regulatory Authority (NEPRA) has issued a draft of amendments to the Solar Policy 2026 that roll backs some controversial changes to its net metering policy, it emerged on Monday.
NEPRA recently significantly revised the terms of contracts for all existing and future net-metered solar consumers — or prosumers — in an effort to manage rising solar energy penetration and protect an expensive and inefficient state-owned power network. It abolished exchange of electricity units in solar net metering. At present, the buyback rate for solar net generation is Rs25.9 per unit which may be reduced to Rs11 per unit. The contract period has been reduced from seven to five years. The burden of capacity payments is being shifted to solar consumers now.
Under the new rules, utilities will be required to purchase excess electricity from prosumers, households, businesses and industries generating up to one megawatt at the national average energy purchase price, while selling electricity back to them at the applicable consumer tariff, effectively ending one-to-one net metering. The federal government’s new solar policy drew sharp criticism from multiple quarters, prompting Prime Minister Shehbaz Sharif to instruct the Power Division to appeal to NEPRA to review the new regulations, aiming to protect existing contracts for current solar users.
Accordingly, NEPRA has issued a draft of an amendment to the new regulations, inviting suggestions from stakeholders and partners within 30 days for further deliberation.
The amendments are set to take effect from February 9 and exclude existing solar net metering users from the ambit of the regulations until their current agreements expire.
“Notwithstanding the repeal effected by these regulations, nothing shall affect approvals granted, licences or concurrences issued and agreements executed under the repealed regulations before the commencement of these regulations and any distributed generator having a valid agreement executed under the repealed regulations shall be billed in accordance with rate and mechanism provided in the repealed regulations till the expiry of the term of the agreement executed under the repealed regulations,” the draft reads.
Following the prime minister’s directives to the Power Division, Power minister Awais Leghari announced that the government would not seek a review to reverse recent changes to the solar policy for new consumers, citing an aim to save non-solar consumers from an additional Rs2.87 per unit impact.
Leghari said the government would file a review with Nepra only to maintain the existing net-metering terms for the 466,506 current solar panel owners.
The minister added that the policy change affected only 1% of consumers, but could not provide a clear explanation as to why this small group was prioritised over systemic issues such as electricity theft, low recovery rates, high line losses, idle capacity payments and cross-subsidies.
NEPRA’s revised policy abolishes netting of sold and purchased units, introducing separate rates for electricity sold and bought by solar panel owners. Under the new terms, solar owners will sell electricity at Rs8.13 per unit but purchase it at rates as high as Rs60 per unit.
Last year, non-solar users paid Rs223 billion (Rs2.44 per unit) due to net-metering, which was projected to rise to Rs2.87 per unit this fiscal year. However, the increase is far smaller than the Rs12 per unit that high-consumption households pay to cross-subsidise low users and the Rs4-5 per unit lost due to theft and system inefficiencies.
Business
RIL, banks lift Sensex even as FPIs sell – The Times of India
MUMBAI: Strong buying in a host of bank stocks and Reliance Industries lifted the Sensex by 650 points on Monday to close at 83,277 points. However, nearly a Rs 1,000-crore net selling by foreign funds raised doubts about the sustainability of the rally. IT stocks had been under pressure over the past few sessions amid doubts surrounding their business models in the age of AI, but their losses were contained on Monday. The session also saw a host of stock of companies that have their businesses closely linked to the stock exchange slide on the back of RBI’s recent rule changes that made it stricter for banks to lend for stock-related usage. This led to sharp fall in stock prices of BSE, MCX, Angel One and Groww in early trades but closed mixed.
Business
Six of Sarah Ferguson’s companies are being dissolved
Ferguson is listed as an active director for three other businesses registered with Companies House: Ginger and Moss, set up as a lifestyle brand to sell tea, jewellery and housewares, a “motion picture production activities” business called Coat, and Librasol, classified under “artistic creation” on the official register for private companies.
Business
Lecturers at two Scottish universities back walk-outs in rows over cuts
Lecturers at two Scottish universities have voted in favour of industrial action in disputes over possible compulsory redundancies, a union has announced.
In separate ballots members of the University and College Union (UCU) at both Heriot-Watt University and the University of Aberdeen backed strike action, as well as action short of a strike.
The latter can include working to contract, not covering for absent colleagues, or not undertaking voluntary activities.
The dispute at Aberdeen centres on planned budget cuts and a refusal by management to rule out compulsory redundancies – despite the fact, the union said, 40 staff have already left under voluntary severance or retirement.
Meanwhile the row at Heriot-Watt follows a proposed “right-sizing exercise” which the union said could see at least 41 jobs lost at the university’s Scottish campuses, and a further 10 in Malaysia.
Kate Sang, Heriot-Watt UCU president, said: “Today’s vote shows the strength of feeling against these cuts and the jobs that senior managers want to lose.
“Sadly, the university has refused to commit to preserving the valuable research time of staff.
“Cuts to research provision will harm not only the university’s reputation, but the development of cutting-edge knowledge to address society’s big challenges.
“The use of compulsory redundancies is unacceptable, and while members will now decide what action they want to take, senior managers should be under no illusion that the use of compulsory redundancies is something we will be strongly opposing.
The threat of industrial action at Aberdeen comes less than two years after the last dispute in spring 2024, when strikes were pulled “at the last minute” after university management backed down on planned compulsory redundancies.
Dan Cutts, Aberdeen UCU branch co-chairman, said: “Once again members of the union at Aberdeen have shown that they’re willing to stand up to job cuts and will take action to stop people being forced out.
“This clear vote shows the strength of feeling among staff and that we see management’s plans for what they are; a threat to the student experience, to the workforce and to the breadth of research carried out at the university.
“There’s still time for our new principal to show that he wants to work with staff and the unions, and rule out the use of compulsory redundancies to resolve this dispute. The union is ready to negotiate, but we need management to engage and work with UCU to save jobs.”
Jo Grady, UCU general secretary, urged the principals at both universities to engage in talks with the union, and to rule out compulsory redundancies.
“Members at Heriot-Watt have shown their willingness to take action and defend jobs,” she said.
“To avoid this dispute escalating and the possibility of strikes at this busy time of year the principal needs to listen to them, sit down to talks and rule out the use of compulsory redundancies.”
She also said it was “unbelievable” that management at Aberdeen was again “trying to force staff from their jobs”.
“To be back in this position just two years after they were last forced to back down shows that they haven’t learnt the lesson,” she said.
“The new principal, Professor Edwards, should sit down with the unions and rule out the use of compulsory redundancies before it’s too late and this dispute escalates further.”
At Aberdeen, 83% of UCU members backed strike action on a turnout of 60%, with 90% also saying they would take part in action short of a strike.
Meanwhile at Heriot-Watt 74% of members backed strike action on a turnout of 70%, with 87% also saying they would participate in action short of a strike.
Union members at both universities are now set to decide on their next steps.
A University of Aberdeen spokesperson said: “The continued challenges and financial pressures testing the UK higher education sector mean change is necessary.
“Our Adapting for Continued Success transformation programme will help tackle our deficit and also deliver a more resilient, relevant and sustainable university.
“We understand concerns raised but the prospect of industrial action is disappointing, particularly when our students would be those most affected.”
Heriot-Watt University has been approached for comment.
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