Vedanta’s overall commercial power sales went up by 7% in FY17 on the back of ramp-ups of its units- Talwandi Sabo Power Ltd (TSPL) and Balco. The third unit of TSPL was capitalised during the year, contributing to significantly higher power sales.
Total commercial power sales by Vedanta moved up from 12121 units to 12925 units.
For the quarter ended March 31 this year, power sales were 2% higher year-on-year (Y-o-Y) due to the commissioning of additional power capacities at TSPL and Balco over the last one year. Power sales from TSPL increased with all three units becoming operational this year.
In Q4, the three units operated at an availability of 85%. The Power Purchase
Agreement (PPA) with the Punjab State Power Corporation Ltd (PSPCL) compensated the company based on the availability of the plant.
The Jharsuguda 600 MW power plant operated at a plant load factor (PLF) of 78% in Q4 of 2016-17. “The 600 MW capacity (2x300MW) of the Balco IPP operated at a significantly higher PLF of 72% in Q4 of 2016-17 (PLF of 55% in Q3 of 2016-17), due to increased offtake under our PPAs”, Vedanta stated in its production statement for 2016-17.
During Q4 of last fiscal, there were no external sales from the 1,800 MW Jharsuguda power plant due to a weak power market.
PLF at the MALCO power plant was at 23% (PLF of 29% in Q4 and 15% in Q3), lower due to lower off-take by the Telangana State Electricity Board (TSEB). However, as per the contract entered into with TSEB, Vedanta is entitled to compensation at 20% of the contracted rate for off-take below 85% of the contractual quantity.
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