• In the first month of FY25, power generation slightly increased by 0.3% YoY to 14,880 GWh (20,000 MW) in July ’24, compared to 14,839 GWh (19,945MW) during SPLY. Moreover, on a Month-on-Month basis, power generation climbed by 10.5%.
• In July ’24, the actual power generation was 10% lower than the reference generation. This decline in generation is expected to result in an increase in QTA, which customers will bear in their electricity bills from Oct’24 to Dec’24.
• In July ’24, fuel costs for power generation rose by 7.4% YoY to an average of PKR 8.96/KWh, compared with an average cost of PKR 8.34/KWh during SPLY. The jump in fuel costs is primarily attributed to the higher costs of generation from local coal (+49.2 YoY), RFO (+7.8%), and RLNG (+1.9% YoY).
• Moreover, power generation from relatively economical sources was reduced, with hydel and nuclear decreasing by 3.2% YoY and 5.6% YoY, respectively. Furthermore, it is pertinent to note that fuel costs increased by 4.0% on a MoM basis.
• The load factor of CPHGC was 6% during July ’24, compared to 16% in SPLY. The load factor of TEL and TNPL was 78% and 79% during July ’24, respectively, and the overall load factor of local coal-based plants was 77%.
• Hydel-based generation dropped by 3.2% YoY to 5,341 GWh in Jul’24. Despite a 25.3% YoY increase in WAPDA’s output, reaching 4,748 GWh, the absence of dispatches from Tarbela contributed to the overall decline in hydel generation during the month.

Courtesy – AHL Research