Power Generation Continues to Fall While Fuel Cost Increases By 23% in January 2024

Power generation in the country went down by 2 percent YoY to 8,313 gigawatts per hour (GWh) in January 2024, while it was flat at 77,200 GWH in 7MFY24 compared to the same period last year.

On a month-on-month (MoM) basis, power generation in the country went up by 9 percent from 7,626 GWh recorded in December 2023.

Meanwhile, the cost of fuel for power generation has increased by 23 percent YoY to an average of Rs. 13.8/unit in January 2024.

Major contributors during January 2024 were Coal (23.4 percent), Nuclear (20.8 percent), RLNG (18.2 percent), and Gas (12.4 percent).

Hydel power generation is up by 11 percent YoY from 800 GWh in January 2023 to 924 GWh in January 2024. On an MoM basis, hydel generation is down 5o percent. For the period July-January FY24, it is up 10 percent YoY.

Coal-based power generation decreased by 20 percent YoY to 1,949 GWh in January 2024 from 2,444 GWh last year. On an MoM basis, coal-based power output shows an increase of 15 percent in January from 1,694 GWh in the previous month.

Nuclear power generation decreased by 8 percent YoY to 1,728 GWh in January 2024, down from 1,876 GWh last year, while monthly nuclear power generation shows an increase of 18 percent from 1,464 GWh observed the previous month.

RLNG-based power generation increased by 18 percent YoY to 1,514 GWh in January 2024 from 1,286 GWh last year and also up by 19 percent MoM compared to 1,268 GWh in December 2023.

Solar-based generation is down 33 percent YoY from 72 GWh last year to 48 GWh in January 2024. During 7MFY24, it fell by 53 percent YoY to 474 GWh from 526 GWh in 7MFY23.

Fuel Cost

During January 2024, fuel cost for power generation increased by 23 percent YoY and 34 percent MoM, to an average of Rs. 13.8/unit, compared to an average cost of Rs. 11.2 in January 2023 and Rs. 10.3/unit in December 2023, respectively. For 7MFY24, fuel costs are down 6 percent YoY with an average cost of Rs. 8.8/unit, compared to Rs. 9.4/unit in 7MFY23.

High-Speed Diesel was the priciest fuel with a fuel cost of Rs. 45.5 per unit during the period in review.

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