EUR 120.00 For Business Accounts Only

MOSL: POWER & COAL MONTHLY-Modest improvement in demand

POWER & COAL MONTHLY: Modest improvement in demand

Conventional generation up ~2% YoY
** Conventional electricity generation increased 2% YoY in Jan’20. This comes on the back of four straight months of a YoY decline. YTD growth remains muted at 0.1% YoY. Demand was driven by states within the southern region (Telangana: +20% YoY; Karnataka: +8% YoY). Coal-based generation increased ~1% YoY, while Hydro and Nuclear generation was up ~17% and ~8% YoY, respectively.

Overall generation up ~3% YoY
** Total generation rose moderately by 2.5% YoY with RE generation increasing 9.5% YoY. This was led by a sharp rise in solar generation (+28% YoY).

Coal stocks rise to 19 days
** Coal India production increased ~10% YoY in Jan’20. This, along with muted power demand, has led to an improvement in coal stocks to 19 days of consumption at end-Jan’20 (v/s 12 days a year back).

IEX volumes increase
** DAM volumes on IEX increased 46% YoY. On a YTD basis, though, DAM volumes on the IEX are ~7% lower. Prices declined 2% MoM to INR2.86/kWh.