Summit's Existing HFO Inventory Provides 30-45 days of Supply Continuity Insulated from Current Price Volatility

(Dhaka, 12th March 2026, Thursday): Summit Power International Limited confirms that its fuel terminals in Bangladesh currently hold approximately 44,000 metric tons of heavy fuel oil (HFO) to ensure supply continuity of Summit’s four power plants (combined installed capacity of 645 MW), for 30-45 days depending on electricity demand.

This inventory was procured in the ordinary course of operations prior to the onset of current geopolitical disruptions affecting global fuel markets. The cost of the most recent cargo, loaded in the second week of February 2026, was approximately USD 449.47 per metric ton. As at 9 March 2026, the equivalent Singapore Platts reference price stands at approximately USD 941.26 per metric ton.

The existing stock position means that near-term electricity generation costs for BPDB from Summit's HFO-based plants i.e. Summit Gazipur II Power Ltd, Ace Alliance Power Ltd, Summit Barisal Power Ltd and Summit Narayanganj Power Unit II Ltd, would remain insulated from current spot market volatility. 

Summit continues to work closely with BPDB and relevant authorities to support the stability and continuity of power supply in Bangladesh.

About Summit Power International Limited:

Summit Group, the largest infrastructure conglomerate in Bangladesh, generating around 2 gigawatts (GW) for the national grid as well as owns and operates Bangladesh’s second Floating Storage and Regasification Unit (FSRU) and LNG import terminal with a capacity of 500 mmcf/d. Summit is a renowned and trusted partner in sustainable energy generation for the future.