Power generation in the country went down by 8.2 percent YoY to 8,023 gigawatts per hour (GWh) in March 2024, and down 1.2 percent YoY to 92,450 GWH in 9MFY24 compared to the same period last year.
On a month-on-month (MoM) basis, power generation in the country went up by 12.5 percent from 7,130 GWh recorded in February 2024.
Meanwhile, the cost of fuel for power generation increased by 1.1 percent YoY to an average of Rs. 8.31/unit in March 2024. During March 2024, the actual power generation was 10.4 percent lower than the reference generation. This decline in generation is expected to result in higher capacity charges for the 4QFY24 QTA, according to Arif Habib Limited.
Major contributors during March 2024 were Hydel (27.6 percent), Nuclear (25.8 percent), RLNG (20.7 percent), and Coal (10.7 percent).
Hydel power generation is up by 10.8 percent YoY from 2,002 GWh in March 2023 to 2,217 GWh in March 2024. On an MoM basis, hydel generation is up 25.5 percent. For the period July-March FY24, it is up 8.3 percent YoY.
Coal-based power generation decreased by 18.8 percent YoY to 862 GWh in March 2024 from 1,062 GWh last year. On an MoM basis, coal-based power output showed a decrease of 13.3 percent in March from 994 GWh in the previous month.
Nuclear power generation increased by 3.4 percent YoY to 2,070 GWh in March 2024 from 2,002 GWh last year, while monthly nuclear power generation shows a big increase of 24.7 percent from 1,660 GWh observed the previous month.
RLNG-based power generation decreased by 7.1 percent YoY to 1,658 GWh in March 2024 from 1,785 GWh last year but up by 14.3 percent MoM compared to 1,450 GWh in February 2024.
Solar-based generation is down 0.7 percent YoY from 111 GWh last year to 110 GWh in March 2024. During 9MFY24, it fell by 6.2 percent YoY to 674 GWh from 719 GWh in 9MFY23.
Fuel Cost
During March 2024, fuel cost for power generation increased by 1.1 percent YoY but down 4.4 percent MoM to an average of Rs. 8.31/unit, compared to an average cost of Rs. 8.22 in March 2023 and Rs. 8.7/unit in February 2024, respectively. For 9MFY24, fuel costs are down 4.2 percent YoY with an average cost of Rs. 8.75/unit, compared to Rs. 9.14/unit in 9MFY23.
Imported fuel was the priciest with a cost of Rs. 30.37 per unit during the period in review.
Dollar index and imported fuel giving fruits