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MOSL: POWER & COAL MONTHLY-Power demand subdued, but NTPC’s PAF improves

POWER & COAL MONTHLY: Power demand subdued, but NTPC’s PAF improves; Coal stocks improve at power plants

 

Conventional generation declines 0.9% in Feb'19

• Conventional electricity generation declined 0.9% YoY in Feb'19 (YTD +3.8%), particularly, nuclear generation was weak and declined ~18%. Hydro generation, on the other hand, was up ~26%.
• Plants owned by states and the Center witnessed a decline in power offtake, while generation from private plants was up 1.2% YoY.
• Demand from northern (-0.9%) and western (-0.2%) regions was lower. All-India peak demand, though, was ~3% higher at 161GW. 

Total generation increased 0.9% YoY in Jan’19

• Including renewable energy (RE), generation grew 0.9% YoY in Jan’19 (4.8% YoY for 10MFY19). RE represented 8.4% of India’s generation in 10MFY19 – accounting for ~20% share of incremental generation. 

Renewable capacity addition outpacing thermal

• Only 2.1GW thermal capacity was commissioned during 11MFY19. Further, ~1.9GW of capacity was retired, resulting in net thermal-based addition of ~0.3GW.
• In contrast, ~5.6GW of renewable capacity was commissioned (Solar: 4.4GW, Wind: 1.2GW) in 10MFY19.