Power generation in the country went down by 16.1 percent on a year-on-year (YoY) basis to 8,741 gigawatts per hour (GWh) in March 2023, the biggest dip in at least a decade.
March electricity generation down 16% YoY – the biggest dip in at least a decade, Covid era included. For context, power generation 5 years ago in March 2018 was slightly higher.
— Zuhair Abbasi (@zuhair_abbasi) April 26, 2023
Solar generation is up 61.1 percent YoY, while fuel costs for power generation decreased by 10.9 percent YoY to an average of Rs. 8.22/KWh in March 2023, compared to an average cost of Rs. 9.22/KWh last year.
According to data by Arif Habib Limited (AHL), power generation was down 8 percent year-on-year (YoY) to 93,582 GWh during the first nine months of the financial year 2022-23, compared to 101,699 GWh in the same period last year.
Power Generation
Mar’23: 8,741 GWh (11,749 MW), -16% YoY | +13% MoM
9MFY23: 93,582 GWh (14,231 MW), -8% YoYFuel Cost
Mar’23: PKR 8.22/KWh, -11% YoY | +3% MoM
9MFY23: PKR 9.14/KWh, +15% YoY@MoWP15#NEPRA #PowerGeneration #Pakistan #Economy #AHL pic.twitter.com/5KC2mbmOB4— Arif Habib Limited (@ArifHabibLtd) April 26, 2023
Major contributors (shares) during March 2023 were Nuclear (share: 22.9 percent), Hydel (share: 22.9 percent), RLNG (share: 20.4 percent), and Coal (share: 15.3 percent).
Hydel power generation accounted for 16.4 percent of electricity output in March 2023, indicating a 17.5 percent increase from 1,704 GWh in March 2022 to 2,002 GWh in March 2023. On an MoM basis, hydel generation is down 2.5 percent. For the period 9MFY23, it is up 2.5 percent YoY.
RLNG-based power generation decreased by 9.2 percent YoY to 1,785 GWh in March 2023 from 1,966 GWh last year but is up by 22.1 percent compared to 1,462 GWh in February.
Coal-based power generation decreased by 48.4 percent YoY to 1,334 GWh in March 2023 from 2,587 GWh last year. On an MoM basis, coal-based power output surged by 22.2 percent in March from 1,091 GWh in February.
Nuclear power generation increased by 28 percent YoY to 2,002 GWh in March, up from 1,564 GWh last year, while monthly nuclear power generation shows an increase of 6.3 percent from 1,883 GWh observed last month.
As of March, solar-based generation is up 61.1 percent YoY from 69 GWh last year to 111 GWh today. During 9MFY23, it surged by 37.7 percent YoY to 718 GWh from 522 GWh in 9MFY22.
Fuel Cost
During March 2023, fuel costs for power generation decreased by 10.9 percent YoY, but up 2.6 percent MoM to an average of Rs. 8.22/kWh, compared to an average cost of Rs. 8.01/kWh in February. For 9MFY23, fuel costs are up 15.2 percent YoY with an average cost of Rs. 9.14/kWh, compared to Rs. 7.94/kWh in 9MFY22.
In an interesting highlight, the cost of coal-based power fell 30.1 percent YoY to Rs. 8.68 per unit.
RLNG was the priciest fuel among all metrics at Rs. 24.31 per unit. The fuel’s inefficacy for power generation is reflected in the fact that local refineries like using it but have failed to do so due to scarcity of RLNG amid import restrictions and delays in gas cargoes for domestic utility.
