Power generation drops 14.2% MoM in February'24

March 19, 2024 (MLN): The total power generation in the country dropped by 14.2% MoM to 7,130 GWh during February 2024 as compared to 8,314 GWh in January 2024, monthly power production data released by the National Electric Power Authority (NEPRA) showed.

On a year-on-year basis, the total power generation decreased by 8.1% YoY compared to 7,755 GWh in February 2023.

On a cumulative basis, in 8MFY24, electricity generation stood at 84,427 GWh, down 0.5% YoY compared to the generation of 84,840 in 8MFY23.

Source-wise

Generation through Nuclear, RLNG, and Coal (local), gas, Coal (imported), Wind, Baggasse registered a fall of 3.9%, 4.2%, 27.6%, 24%, 76.6%, 15.6% and 4.7% MoM, respectively in February, compared with the figures in January.

On the other hand, Hydel and solar production improved by 91.1% and 87.5% MoM, respectively.

When compared to February 2023, generation through Coal (local), Wind, Baggasse, and Solar sources ticked higher, while all other sources dropped.

Share-wise

Power generation through hydel contributed the largest in February 2024, as it accounted for 24.8% (1,766 GWh) of total electricity.

With a share of 23.3%, power generation from Nuclear stood at around 1,660 GWh. The next in line was RLNG which contributed 20.3% (1,450 GWh) to overall electricity generation.

Meanwhile, electricity production was nill through HSD and RFO during the review month.

Fuel cost

The average fuel cost plunged 36.9% MoM to Rs8.7/kWh in February 2024, compared to Rs13.79/kWh in January 2023.

On a yearly basis, the fuel cost recorded a rise of 8.5% YoY as in February 2023 cost stood at Rs8.01/kWh.

During the review month, the fuel cost of RLNG, imported coal, gas, and nuclear dropped.

Conversely, charges for production through local coal surged to Rs14.19/kWh, against the fuel cost of Rs11.92/kWh faced in January 2024.

On an annual comparison basis, fuel costs for all alternatives recorded a major increase, except RLNG which recorded a 5.7% YoY drop.

Fuel cost during 8MFY24 dropped by 4.7% YoY to Rs8.8/kWh compared to a cost of Rs9.24/kWh incurred in the same period last year.

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