K-Electric denies delays or default in RLNG payments to PLL

K-Electric (KE) has rejected claims of delays or default in payments for re-gasified liquefied natural gas (RLNG) supplied by Pakistan LNG Limited (PLL), saying it has sought the implementation of an agreed pricing mechanism and reconciliation of payments.

 

The clarification came in response to a report published earlier regarding a letter sent by PLL to K-Electric's chief executive concerning outstanding payments.

 

According to a KE spokesperson, the National Coordination and Management Council (NCMC), during its July 1, 2026 meeting attended by relevant stakeholders, agreed to implement a unified or weighted-average RLNG pool pricing mechanism under the prevailing force majeure conditions.

 

KE said it has urged stakeholders to expedite the implementation of the agreed mechanism to enable reconciliation of RLNG pricing and payments with effect from May 2026.

 

The power utility maintained that it has been making payments based on the actual mix of RLNG received through spot and regular cargoes.

 

Based on payments already made and the expected pricing under the proposed unified pool mechanism, KE estimates that it has paid approximately Rs4.2 billion in excess. The company said it expects to receive a corresponding credit note from PLL once the revised pricing mechanism is implemented.

 

K-Electric reiterated its commitment to ensuring timely payments and called on all relevant stakeholders to accelerate the implementation and reconciliation process.

 

However, Pakistan LNG Limited, in its communication to KE, had maintained that the outstanding principal amount against RLNG supplies made between May and July 2026 stood at Rs6.7526 billion as of August 27, 2026.