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India Electricity Industry Report - 2015

India Electricity Industry Report - 2015

This report profiles India’s electricity industry, discussing market trends and outlook through 2015 and beyond. The report also highlights leading players in the sector including National Thermal Power Corporation Ltd, Tata Power Company Ltd and Reliance Infrastructure Ltd.

In FYE March 2015, India’s power supply outpaced power demand again. This was due to a significant increase in both installed capacity and power generation. As a result, the net power deficit shrank by a significant margin. However, India’s fast-paced economic growth and its rapid rate of industrialization and urbanization will continue to fuel energy demand in the long-term. According to the Central Electricity Authority (CEA), an additional capacity of around 76,000 MW is needed to satisfy the projected demand by 2016-17. Given that electricity has become necessary to achieve or maintain India’s economic growth, the government has an ambitious vision to electrify the whole of India in the coming years. Renovation and modernization of old thermal and hydro power plants and large untapped hydro, solar and wind power also give a huge opportunity for growth in the sector.

Nevertheless, poor quality infrastructure still limits India’s growth potential. According to the CEA’s 17th Electric Power Survey of India (EPS) projections, the peak electric demand would reach 298GW by 2021-22. To meet the country’s demand requirements, the Working Group on Power for the Planning Commission estimates capacity addition of about 76,000 MW in the 12th Plan and 93,000 MW in the 13th Plan. The government has created a USD 11bn debt fund to bridge a funding shortfall and ease the financing of power sector projects as well as overhaul the poor infrastructure. In order to fuel a rapidly growing economy, the Indian energy sector requires investments. Private sector investment in addition to the public is needed to bring in the required capabilities and technologies to enhance domestic energy generation capacity.

Key Points:

Annual electricity sales grew at a CAGR of around 9% during the last 10 years. Electricity, gas and water supply sector had a contribution of 2% to the overall gross value added in FY15.

Rising per capita income of Indians has resulted in an increase in per capita electricity consumption. Domestic per capita consumption rose at a CAGR of 5% during 2004-14.

Electricity production recorded a strong growth, with the production index growing by 8.2% in FY15. The index recorded a stable growth of 4.1% y/y in 1HFY16.

1. Industry Profile
1.1 Sector overview
1.2 Sector size
1.3 Competitive landscape
1.4 Environmental scanning

2. Market Trends and Outlook
2.1 Key economic indicators-India
2.2 Generation performance
2.3 Plant load factor (PLF)
2.4 Power demand-supply position
2.5 Consumption
2.6 Transmission and distribution
2.7 Rural electrification
2.8 Market outlook

3. Leading Players and Comparative Matrix
3.1 Leading Players
3.1.1 National Thermal Power Corporation Limited (NTPC)
3.1.2 Tata Power Company Limited (Tata Power)
3.1.3 Reliance Infrastructure Limited (Reliance Infra)
3.2 Comparative matrix
3.3 SWOT analysis

4. Tables and Charts
Table 1: Per capita consumption of major countries
Table 2: Capacity addition target during the 12th plan and achievement
Table 3: Key objectives of the National Electricity Policy
Table 4: Salient features of the Electricity (Amendment) Act 2007
Table 5: Functions of the CERC
Table 6: FDI policy in power sector
Table 7: Steps taken by the MOP to increase the power availability
Table 8: Salient features of UDAY
Table 9: Transmission & Distribution and Aggregate Technical & Commercial Losses
Table 10: Financial ratios of the leading players (FYE Mar 15)
Table 11: Latest financial results of the leading players (1HFY16)

Chart 1: Sources of electricity generation by installed capacity
Chart 2: Generation capacity by sector
Chart 3: Annual units of electricity sold in the country
Chart 4: Planned outlay on power sector-Union Budget
Chart 5: Cumulative FDI inflows in the power sector
Chart 6: Market share of power companies by installed capacity
Chart 7: Position of constituent parties in lower house of parliament
Chart 8: Per capita electricity consumption
Chart 9: Primary source of lighting of Indian households
Chart 10: Quarterly GDP growth rate-India
Chart 11: Average monthly USD to INR exchange rate
Chart 12: Inflation-India
Chart 13: Repo rate
Chart 14: GDP by sectors at factor prices
Chart 15: Percentage change over previous year- GDP by Sector
Chart 16: Contribution of eight core industries in IIP by weights
Chart 17: Y/Y change in Index of industrial production
Chart 18: Annual electricity generation in India
Chart 19: Generation mix in India during FY15
Chart 20: Plant load factor
Chart 21: Annual power demand and supply position in India
Chart 22: Demand and supply position in India-Region wise
Chart 23: Power demand by region
Chart 24: India's total electricity consumption
Chart 25: Electricity consumption by sector
Chart 26: Annual electricity generated by NTPC
Chart 27: Net sales of NTPC-Annual
Chart 28: Profit margins of NTPC
Chart 29: Tata Power installed capacity by source
Chart 30: Net sales of Tata Power-Annual
Chart 31: Profit margins of Tata Power
Chart 32: Segment wise breakup of revenue-Reliance Infra
Chart 33: Net sales of Reliance Infrastructures
Chart 34: Profit margins of Reliance Infrastructures

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