The operational performance of poÂwer utilities has improved during the past year, with an increase in econoÂmic activities post-Covid. Power deÂmaÂnd has increased, which is also reflected in the rising utilisation levels, measured by the plant load factor (PLF) of thermal poÂwer plants (TPPs). The majority of the state transmission utilities fared well in the past year, reporting a decline in transmission losses. The aggregate technical and commercial (AT&C) losses of discoÂms have also reduced, although they are still above the targeted level of 15 per cent in most states.
Power Line presents an overview of the performance of utilities across the poÂwÂer sector during the past year…
Generation
The national PLF of TPPs stood at 58.87 per cent during 2021-22, an increase of 4.3 percentage points from the 54.57 per cent recorded during 2020-21. MeanÂwhile, the PLF for the April-August 2022 period stood at 65.26 per cent (tentative).
Of the 34 utilities tracked by Power Line Research during 2021-22, 26 utilities reÂported an increase in PLF over the previous year. The highest PLF (at 94.19 per cent) was reported by Sasan Power LimiÂted, which operates the 3,960 MW Sasan ultra mega power project in Madhya Pradesh, followed by Singareni Collieries Company Limited (SCCL) with a PLF of 88.97 per cent. SCCL operates the 1,200 MW Singareni TPP in Telangana.
Sector-wise, the central sector recorded the highest PLF during 2021-22. The avÂeÂrage PLF of central sector-owned planÂts stood at 69.71 per cent, higher than the 63.47 per cent recorded in the previous year. In the state sector, the PLF was recorded at 54.5 per cent during 2021-22, much hiÂgher than the 46.23 per cent recorded a year ago. In the private sector, PLFs decreased from 54.66 per cent during 2020-21 to 53.62 per cent during 2021-22 .
Among central utilities, NTPC Limited recorded a PLF of 70.82 per cent during 2021-22, about 4.54 percentage points hiÂgher than its previous year’s record of 66.29 per cent. NTPC’s best performing plant during 2021-22 was the Korba super thermal power station (STPS) in ChhatÂtisgarh, which recorded a PLF of 93.28 per cent, whereas its lowest PLF was recorded at its Kudgi STPS in KarÂnataka at 31.91 per cent. Among other central sector utiÂliÂties, the DamoÂdar Valley Corporation reÂcorÂÂded an increase of 6.4 percentage poiÂnts in its PLF, from 62.39 per cent during 2020-21 to 68.79 per cent during 2021-22, whereas the PLF of NLC India Limited inÂcreased from 56.88 per cent to 71.60 per cent during 2021-22.
At the state level, SCCL was the best performing utility with 88.97 per cent PLF during 2021-22, which is well above the average state sector PLF of 54.5 per ceÂnt as well as the national average. TelanÂgaÂna State Power Generation CorporatÂion Limited was the second-best perforÂming state utility with a PLF of 75.71 per cent, followed by West Bengal Power DeÂveÂlopment Corporation Limited with a PLF of over 72.44 per cent and ChhaÂtÂtisÂgarh State Power Generation CompaÂny Limited with a PLF of 70.4 per cent during 2021-22. Only three state utilities – AnÂdhra Pradesh Power Development ComÂÂpany Limited, Durgapur Projects LiÂÂÂÂmited and Tenughat Vidyut Nigam LiÂmited – recorded a decline in PLF during 2021-22 vis-à -vis 2020-21 and the rest reported an increase as compared to the previous year’s level. The biggest inÂcrease in PLF was reported by Andhra PraÂÂdesh Power Generation Corporation LiÂmited (APGenco) and Karnataka PoÂwÂer Corporation Limited (KPCL). The PLF increased by 25.82 percentage poiÂnts from 35.84 per cent during 2020-21 to 61.66 per cent during 2021-22 in the caÂse of APGenco. Meanwhile, KPCL reÂcorÂded an increase of 21.01 percentage points from 23.44 per cent during 2020-21 to 44.45 per cent during 2021-22.
In the private sector, PLFs varied widely from 25.94 per cent to 94.19 per cent. CESC Limited, Essar Power Madhya PraÂÂdeÂÂsh Limited, Jindal India Thermal PriÂvate Limited (JITPL), RattanIndia PoÂwer LiÂmited, Adani Electricity Mumbai LiÂmÂiÂted (AEML) (Dahanu TPP), Tata PoÂwÂer (Trombay TPS) and Torrent Power LimiÂted (Sabarmati TPP) witnessed an incÂreÂase in PLFs during the review period. All otÂher private sector utilities registered a decline in their PLFs. Six private utiÂlities reported PLFs higher than the national average. These were JITPL, RattÂanÂIndia, AEML, Sasan Power LimitÂed, Tata Power (TroÂmbay TPS) and TorrÂeÂnt PoÂwÂer LimiÂtÂed (Sabarmati TPP). The highest year-on-year decline in PLF was reported by CoÂastal Gujarat Power LimiÂted, which saw its PLF go down from 74.8 per cent duÂrÂing 2020-21 to 25.94 per cent during 2021-22.
Meanwhile, the highest year-on-yeÂar inÂcÂrease in PLF was reported by RaÂttanÂIndia Power Limited, which saw its PLF go up from 23.98 per cent during 2020-21 to 75.1 per cent duÂring 2021-22. MeÂanwhile, Essar Power Gujarat LimiÂted did not register any generation during 2021-22.
Transmission
The performance of state transmission utilities improved during 2021-22 and utilities tracked by Power Line Research reported transmission losses in the raÂnÂge of 0.75 per cent (Himachal PraÂdeÂsh Power Transmission Corporation LimitÂed [HPPTCL]) to 3.75 per cent (MeghaÂlaÂya Power Transmission Corporation Limited) during 2021-22.
Of the 17 utilities for which data is available for 2021-22, 10 utilities registered a decline in their transmission losses during 2021-22 over the previous year, while six registered an increase (Transmission Corporation of Telangana Limited, TraÂnÂsÂmission Corporation of Andhra PradeÂsh Limited, Madhya Pradesh PowÂer TraÂnsÂmiÂssion Company Limited, MaÂhaÂraÂsÂhÂtra State Electricity Transmission ComÂpany Limited, Rajasthan Rajya ViÂdyut PraÂsaran Nigam Limited, and GujaÂrat EnÂÂerÂgy TranÂsmiÂssion Corporation LimiÂted) and one utiÂlity HPPTCL did not register any change.
Among the utilities tracked, HPPTCL reported the least transmission losses at 0.75 per cent, followed by Power TransÂmission Corporation of Uttarakhand LiÂmiÂted with 1 per cent transmission loss. Meanwhile, Punjab State Transmission Corporation Limited, Madhya Pradesh Power Transmission Corporation LimitÂed, Karnataka Power Transmission CorÂpoÂration Limited, Transmission CorpoÂration of Telangana Limited, TransmisÂsÂion Corporation of Andhra Pradesh, HarÂyana Vidyut Prasaran Nigam Limited and Bihar State Power Transmission CoÂmÂpany Limited are other state utilities that reÂcorded losses of 2-3 per cent during 2021-22. The rest of the state transcos reÂported losses in the range of 3-3.75 per cent, including state utilities of MeghaÂlaÂÂya, Gujarat, Uttar Pradesh, Assam, RaÂjastÂhan, Chhattisgarh, Odisha and MaÂhaÂrashtra. The transco with the highest loss of 3.75 per cent was the Meghalaya Power Transmission Corporation.
Distribution
Data was collated by Power Line ResearÂch for 60 discoms (46 state-owned distribution utilities and 14 private utilities) from tariff orders, BEE energy audit reÂpoÂrt and company reports. It is observed that among state utilities, AT&C losses ranged from as low as 5.16 per cent for Uttar Gujarat Vij Company Limited (UGVCL) to as high as 65 per cent for the Jammu & Kashmir Power Development Department (JKPDD) during 2021-22. Overall, most of the state utilties have reported a decÂline in AT&C losses during 2021-22 vis-à -vis 2020-21. The most significant improÂvements were reported by Andhra PraÂdeÂsh Eastern Power DistribuÂtion ComÂpaÂny Limited (APEPDCL), AnÂdhÂra Pradesh Central Power DistribuÂtiÂon Company Limited (APCPDCL), ChaÂmunÂdeshwari Electricity Supply ComÂpaÂny Limited (CESCOM), and MahaÂrashtra State Electricity Distribution Company Limited (MSEDCL), which reported a decline of over 10 percentage points in AT&C losses.
Among state utilities, UGVCL was the best performer with AT&C losses of 5.16 per cent during 2021-22. In addition, 12 state-owned utilities reported/estimated AT&C losses of less than 15 per cent during 2021-22. These are UGVCL, APEPDCL, APCPDCL, the Goa Power DeparÂtÂÂment, Dakshin Gujarat Vij Company Limited (DGVCL), Madhya Gujarat Vij Company Limited (MGVCL), Dakshin Haryana Bijli Vitran Nigam Limited (DHBVNL), Uttar HarÂyaÂna Bijli Vitran NiÂgam LimitÂed (UHBVNL), ChamunÂdeÂshwari ElecÂtriÂcity Supply Company LiÂmiÂted (CESCOM), Gulbarga Electricity SuÂpply ComÂpany Limited (GESCOM), BanÂgaloÂre Electricity Supply Company Limited (BESCOM), and Ajmer Vidyut Vitran Nigam Limited (AVVNL).
The worst performing state-owned utilities during 2021-22 were JKPDD, Dakshinanchal Vidyut Vitran NiÂgam Limited (DVVNL) and South BiÂhÂar Power Distribution ComÂpany Limited (SBPDCL) with AT&C losses of 65 per cent, 38.24 per cent and 34 per cent respectively. Meanwhile, private sector discoms continued to report a steady performance with losses of less than 10 per cent over the past couple of years. Only the four Odisha discoms, which were acquired by Tata Power during 2019-20 and 2020-21, have losses of 23 per cent-33 per cent. Tata Power Mumbai’s AT&C losses during 2021-22 were less than 1 per cent.
Meanwhile, Adani Electricity Mumbai Limited reported AT&C loss of 6.55 per cent during 2021-22. Among Delhi discoms, BSES Yamuna Power Limited (BYPL), BSES Rajdhani Power Limited (BRPL) and Tata Power Delhi DistribuÂtiÂon Limited recorded AT&C losses of 7.27 per cent, 6.87 per cent and 6.8 per cent reÂspectively. In Gujarat, AT&C losses of Torrent Power-Surat and Torrent Power-Ahmedabad stood at 3.72 per cent and 4.32 per cent respectively. Meanwhile, NoÂida Power Company Limited’s (NPCL) AT&C loss was recorded at 7.95 per cent. Other private discoms (which reported T&D losses during the review period) also improved their performance. The T&D loss for India Power in West Bengal was recorded at 3 per cent.
Conclusion
Overall, power utilities have seen a recovery in their operational performanÂce post-Covid-19. The thermal power generation segment was reeling with declining PLFs, which has improved with the resumption of economic activities and inÂcrease in power consumption. The electricity distribution segment has seÂen some improvement in its operational performance. However, the goÂvernmeÂnt’s recently launched RevampÂed DistriÂbuÂtion Sector Scheme is expected to strenÂgÂthen the distribution network and imÂprove the operational and finÂancial perÂformance of utilities. AdditioÂnally, the laÂte payment surcharge rules will allow discoms to clear their past dues in eqÂuated monthly installments. This will improve the financial position of the segment, which has so far reÂmaÂined the weakest link in the electricity value chain.