Power generation in Pakistan rose by 1 percent year-on-year in May 2025, reaching 12,755 GWh, although output remained below reference levels. For the first eleven months of the fiscal year 2025 (11MFY25), total generation stood at 113,416 GWh, reflecting a slight decline of 0.3 percent compared to the same period last year.

According to Arif Habib Limited, the increase in May’s generation is attributed to heightened demand, likely bolstered by a reduction in electricity tariffs. The cost of power generation also saw a decrease, falling by 11 percent year-on-year to Rs. 7.77 per kilowatt-hour (KWh), although it remained marginally above the reference benchmark.

Local coal-based generation experienced a notable surge, increasing by 3 percent to 1,413 GWh. In contrast, gas-based generation plummeted by 20 percent year-on-year, while wind power generation declined by 3 percent. Solar power generation also fell by 7 percent, and nuclear generation dropped by 15 percent. Additionally, RLNG-based generation decreased by 21 percent during the review period.

On a positive note, imported coal-based generation reached 796 GWh in May 2025, marking a significant 108 percent increase compared to the same month last year.

For the 11MFY25 period, the average fuel cost for power generation was Rs. 8.67 per KWh, down 1 percent from the previous fiscal year.