Factors such as natural resources, government policies and economic stability can affect the price and availability of electricity. But electricity is significantly cheaper in some countries than in others.
An international group has compiled a list of countries with cheapest electricity prices based on the latest petrol price data which is listed below.
Iran
The cheapest electricity worldwide is available in Iran, at $0.002 per kilowatt, energy in Iran is largely state-controlled, with the government providing heavy subsidies on electricity prices. Recently, the Iranian government invested 19 percent of its total GDP on the energy sector alone.
the evening
Syria has the second cheapest electricity price in the world, at $0.003 per kilowatt hour. Here too the energy sector is largely controlled by the government.
Better control over their consumption and bills, as well as saving money are among the benefits that households are expected to gain from installing smart electricity meters.
Today, Tuesday (08.11.23) the European Investment Bank (EIB) and DEDDIE signed the contract to finance the gradual installation of smart electricity meters, through which households will have ownership of their consumption.
The systems are expected to provide real-time information to end customers, facilitate energy savings and support demand response. In addition, they will help address issues that slow down the achievement of European and national long-term energy and climate goals.
The benefits of smart meters for the consumer, according to the relevant information from DEDDIE, include:
-Transparency in consumption measurement.
-The possibility of saving by changing supplier even during the day and taking advantage of different tariffs depending on the period of use.
– Possibility to participate in the market to small producers with storage and sale of energy and to consumers with a fee for transferring consumption outside of peak periods.
Benefits are also expected for suppliers (improvement of cash flows, immediate cut-off in the cases provided for such as overdue debts, frequent measurement and issuing of bills with shorter payment times, more flexible offer packages, multi-zone pricing) and for the network:
counting, disconnections and reconnections will be done remotely in a much shorter time, fault management and resolution remotely and in a much shorter time, further reduction of power thefts, possibility to collect data and from e.g. natural gas or water meters, etc.
For his part, the President of the EIB, Werner Hoyer, and the Managing Director of DEDDIE, Anastasios Manos, signed a 15-year loan of 150 million euros, for the installation of 3.12 million smart meters and the necessary supporting infrastructure. According to the EIB, the project is expected to be co-financed with a loan of 273 million euros from the Recovery and Resilience Mechanism (RMF) in order to cover the estimated total investment cost of 546 million euros.
“Increasing energy investment is key to improving grid reliability, harnessing the potential of solar and wind power in Greece and contributing to Europe’s energy transition,” said Werner Hoyer, President of the EIB.
“The green and sustainable future of Europe goes through projects like this. Our homes, workplaces and other buildings are among the main sources of carbon dioxide (CO2) emissions, in part due to the inefficient use of electricity. Smart meters, such as those installed by DEDDIE, will play an important role in increasing energy efficiency and preventing waste”
“The EIB has always supported the PPC Group. We welcome the investment in one of DEDDIE’s most iconic projects that will rapidly transform and modernize the Greek energy market, upgrading the electricity distribution network, paving the way for a successful energy transition.
According to newsit, smart meters and smart grids are essential to meet all our energy targets. In the face of climate change, we need a more reliable network, a smarter network, now more than ever,” said Anastasios Manos, CEO of DEDDIE.
#smart #electricity #meters
Federal Energy Minister Owais Leghari says that IPPs will give good news on the issue in a couple of months, the government and secret agencies are working on it, people and industrialists will benefit, reforms in the energy sector are inevitable, 2 hours of load shedding. 50 billion rupees can be saved, new plants will have to be installed to meet the energy consumption.
Addressing the National Youth Convention in Islamabad, Federal Minister for Energy Owais Laghari said that there is a need to generate 29,000 megawatts of electricity, steps are underway to overcome the energy crisis, reforms in the energy sector are inevitable, 2 hours If loadshedding is tolerated, there will be a benefit of 50 billion.
Acknowledging the most expensive electricity in the region, Owais Leghari said that there is no doubt that they are providing the most expensive electricity in the region, because of the dollar, the capacity payment has increased to 18 rupees.
The Federal Energy Minister said that 30% of the country’s energy is renewable, your installed capacity is 39 thousand, you must have heard why we have increased this much capacity, this capacity is as much as you need, capacity. Charges are given for 35 thousand megawatts.
Owais Leghari said that every year when the temperature goes above 40 degrees, the power generation capacity decreases by 300 to 400 megawatts, every year every plant has to shut down for a few days. Then you save 34 thousand megawatts.
Total electricity price has not increased but decreased, Owais Leghari
He added that planning has to be done according to the maximum demand, currently you have the capacity to generate 29,000 megawatts of electricity.
Owais Leghari said that the electricity is for use at all times, it is only 7 thousand megawatts, the highest demand is 24 thousand megawatts, 1 thousand 845 megawatts is lying in the system only because the people of Pakistan have 85 Hourly electricity should be provided, apart from this, there is no demand for this 1,845 MW, our system is paying 50 billion rupees annually for it.
The Minister of Energy further said that if we do not keep this electricity in the system, we will have to do 85 hours of load shedding within the whole year, that is, if we tolerate load shedding of electricity for 40 days and 2.2 hours, then the whole nation can save 50 billion rupees. , this is the price paid by areas where there are no line losses.
The Power Division has agreed to share the details of the contracts of the Electricity Distribution Companies (IPPs) with the National Assembly’s Standing Committee on Power with a view to taking the Committee into confidence for future action in this regard.
According to a Business Recorder report, while testifying before the committee, newly appointed Secretary Power Dr Muhammad Fakhr Alam Irfan said that the Power Division is ready to share the full details of the IPPs with the committee in a special meeting.
However, he argued that initially his officers would brief committee members who have some knowledge of IPPs and later the matter would be put before the entire committee publicly or in camera.
His proposal was opposed by Dr. Tariq Fazal Chaudhry on the ground that the matter should be placed before the entire committee and not before a few members. He further said that it is important to clear the misconceptions in the minds of all the members.
It should be noted that Dr. Chaudhry was part of the government team that negotiated with Jamaat-e-Islami (JI) during the sit-in. On this occasion, he said that IPPs are sucking people’s blood and their contracts should be placed before the committee.
He said that the government informed Jamaat-e-Islami that it will see how far it can go with regard to IPPs and provide tariff relief to consumers keeping in view the IMF conditions.
In response to Sheikh Aftab MNA, the Secretary Power said that the main reason for the expensive bills at the moment is the payment of capacity in dollars and the loss of discos. He added that electricity prices have been increased due to pressure from the IMF, which wants full cost recovery from consumers.
He said that the IMF has set a revolving credit limit of Rs 2.310 trillion for the power sector, which the government cannot exceed. We talk to the IMF but they are not ready to listen to us. The IMF program was essential for the stability of the country’s economy.
Expressing his views on the privatization of discos, the power secretary said that the government wants to get out of the electricity business. In the first phase three best performing DISCOs namely IESCO, FESCO and GEPCO have been selected for privatization or on long term management contract.
He said that the privatization of these three DISCOs would reduce the financial burden on the government exchequer, adding that the loss-making companies would be privatized after some investment in their systems.
The committee was further informed that discos established in Punjab are suffering a financial loss of 150 billion rupees annually.
The committee was told that out of the losses of Rs 500 billion, Hyderabad Electric Supply Company (HESC)’s share is Rs 205 billion. 318 feeders in Hesco are working at 80% loss and annual recovery is 75%.
#Details #IPPs #agreements #revealed #committees #story #revealed #Pakistan
2024-08-17 07:48:16