Power demand bodes well for NTPC’s metrics

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Updated: June 23, 2016 6:56:58 AM

According to the latest available generation data from the Central Electricity Authority (CEA) — the Tentative generation report for May 2016 — the PLF (plant load factor) of NTPC’s overall wholly owned thermal capacity was 75.5% in May 2016 (vs 76.1% in April 2016 and 76.4% in May 2015).

power shareholdersAccording to the CEA, all-India coal-fired PLF was 62.1% in May 2016 (vs. 66.9% in April 2016) and 64.5% during 2MFY17. All-India electricity demand grew by 6.6% y-o-y in May 2016 after a strong double-digit y-o-y growth in the previous three months – 12.1% in February 2016, 12.6% in March 2016 and 15.1% in April 2016. (Reuters)

According to the latest available generation data from the Central Electricity Authority (CEA) — the Tentative generation report for May 2016 — the PLF (plant load factor) of NTPC’s overall wholly owned thermal capacity was 75.5% in May 2016 (vs 76.1% in April 2016 and 76.4% in May 2015).

NTPC’s wholly-owned coal-fired PLF was 81.2% in May 2016 vs 81.5% in April 2016 and 81.8% in May 2015. Six plants (12.1GW) were in the incentive zone (i.e. >85% PLF) in May 2016 vs. ten plants (24.2GW) in April 2016 and seven plants (15.4GW) in May 2015.

PLF at Mauda-I was 55.4% vs. 66.7% in April 2016, as one of the units was partially shut due to a low schedule; however, the PLF is still robust relative to FY16 PLF of 21%. PLF at Barh-II normalized to 69% vs. low of 47% in April 2016, Rihand and Vindhyachal saw a sequential dip in PLF, primarily on the back of annual maintenance of 500MW at Rihand + 210MW in Vindhyachal for part of the month.

According to the CEA, all-India coal-fired PLF was 62.1% in May 2016 (vs. 66.9% in April 2016) and 64.5% during 2MFY17. All-India electricity demand grew by 6.6% y-o-y in May 2016 after a strong double-digit y-o-y growth in the previous three months – 12.1% in February 2016, 12.6% in March 2016 and 15.1% in April 2016. For 2MFY17, electricity demand is up 10.7% y-o-y, which bodes well for NTPC’s operational/financial metrics.

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