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Power: All India generation up 4.6% y-o-y

Motilal Oswal | 14 Jun, 2010  | Follow Author | Add to my Favourites 
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All India generation during May 2010 was 67.7BU (v/s 64.7BU in May 2009), while overall PLF was up 20bp to 64.9% (v/s 63.8% in May 2009). Coal and lignite based power generation declined 4.2% y-o-y to 47.3BU (70% of total generation) at PLF of 78.2% (down 420bp y-o-y, validating media reports of coal shortage in the country), whereas gas-based generation increased 31% y-o-y to 9.1BU (13% of total generation) and PLF moved upwards to 77% (up 13.9pp). Hydro power generation increased by 36.7% to 9.7BU, while nuclear power generation grew 25% y-o-y to 1.7BU.

Short-term prices remain low, post recent highs

With the onset of monsoon and the proposed move by CERC to cap short-term prices at Rs5/unit, day-ahead prices on Indian Energy Exchange (IEX) remain subdued. For the week ended 14 June 2010, short-term prices stood at Rs3.2/unit, v/s Rs5.6/unit a month ago for the week ended 19 May 2010. During the first week of June 2010, short-term prices dropped to Rs2.6/unit. ST Prices has inverse co-relation to the volumes of electricity traded. During November 2009 to April 2010 IEX registered highest volumes at low price.

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About Motilal Oswal

Motilal Oswal was founded in 1987 as a small sub-broking unit, with just two people running the show. Today it has a 2000 member team with a networth of Rs7 bn and market capitalization as of March 31, 2008 at Rs19 bn.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

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