Power generation declined by 17.4% YoY to arrive at 13,179 GWh (17,714 MW) during Aug’24, compared to 15,959 GWh (21,450MW) during SPLY. Moreover, on a MoM basis, power generation witnessed a dip of 11.4%. For 2MFY25, power generation fell by 8.9% YoY to 28,059 GWh (18,857 MW) compared to 30,798 GWh (20,697 MW) in the SPLY.
In August ’24, the actual power generation was 13.1% lower than the reference generation. This decline in generation is expected to result in higher capacity charges for the 2QFY25 QTA.
- In August ’24, fuel cost for power generation declined by 9.3% YoY to an average of PKR 7.49/KWh, compared with an average cost of PKR 8.27/KWh during SPLY. The fall in fuel cost is primarily attributed to lower costs of generation from local coal (-21.4% YoY) and RFO (-9.0%).
- Moreover, the proportion of power generated from hydel and nuclear to the total generation mix increased to 40.7% and 16.6% compared to 37.6% and 12.8% during SPLY, respectively. Furthermore, it is pertinent to note that fuel costs dipped by 11.4% on a MoM basis.
- The load factor of CPHG power plants arrived at zero during Aug’24, due to subdued demand from power purchaser, we view. The load factor of TEL and TNPL settled at 69% and 65% during Aug’24, respectively, and the overall load factor of local coal-based plants came at 66%.
- Hydel-based generation dropped by 10.2% YoY to 5,362 GWh in August ’24, due to lower generation from WAPDA, down 4.2%, and the absence of dispatches from the Tarbela and Neelum Jhelum hydel plants.
Courtesy – AHL Research
