Pakistan Power_Another record-breaking month, (AKD Daily, May 23, 2022)
nother record-breaking month
Power generation in the CPPA-G system has hit a record number for April compared to
previous years, with 12,960 GWh being generated in the past month. Generation for April
is up 24%YoY and 24%MoM, while total generation for 10MFY22 is 114,636GWh up
11.5%YoY.
Average Cost of generation is PkR10.24/Kwh, with largest increases seen in generation
mix seen from Nuclear up 44%/110% MoM and YoY respectively. After Nuclear, the country
has been forced to increase generation from plants using Furnace Oil, with generation
from RFO being up 41%MoM and 958%YoY.
For 10MFY22, HSD saw the largest increase up 233% YoY, along with RFO/Nuclear up
144%/93.3% YoY. The largest share in power generation has been from Hydel, 25% in the
generation mix followed by RLNG and Nuclear with 17.6% and 13.2% weightages respectively.
IPPs have seen a further surge in their utilization; With HUBC generating 20.5% more
than last month, KAPCO’s generation is up 110% MoM, while generation from NPL and
NCPL were up 43.3%/50.3% MoM respectively. The increased utilization and revenue for
IPPs will lead to an increase in the circular debt for the power sector, hence the quality of
earnings is impacted and we expect the dividend paying capacity for these IPPs to remain
compromised.
Hub Power Company is a holding company. Through its subsidiaries, Co. is engaged as a power producer in Pakistan that focuses on developing, owning, operating and maintaining power stations. Co. supplies electricity to Water and Power Development Authority and National Transmission and Despatch Company under long term Power Purchase Agreements for its Hub and Narowal plants respectively.
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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