Power generation up

KARACHI: Overall power generation in Pakistan witnessed an increase of 4.6 percent to 6,840GWh during November as compared to 6,540GWh in the same month of the last year.

Major contribution in generation came from hydel, gas and furnace oil. Hydel and gas, including RLNG-based generation increased 23.5 percent YoY to 2,843GWh and 1.1 percent YoY to 2,122GWh, respectively.

However, furnace oil-based generation witnessed a decline of 27.5 percent YoY to 1,345GWh, mainly due to higher costs in contrast to hydel and coal-based generation. Nuclear-based generation also increased 54.4 percent YoY to 338GWh. Hydel made a contribution of 41.6 percent to the total generation; followed by gas, including RLNG at 32.4 percent and furnace oil at 19.7 percent. “Higher oil prices led power purchasers to adjust their strategy by subsiding oil-based generation and in turn, reducing the share of oil in the total power generation mix to 19.7 percent vis-à-vis 28.4 percent in the same month last year,” Rao Amir Ali at Arif Habib Limited, said. Average fuel cost declined 29.9 percent YoY and 21.7 percent MoM given low cost sources composed of a bigger share in the pie.