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1 Year Delhi Distribution Business What Determines Electricity Tariff What Determines Electricity Tariff A perspective
2 Contents Electricity Value Chain What determines tariff Power Purchase & Transmission Cost Distribution Cost Tariff iffcomparisons Services / Fuel With Neighbouring Towns / Metros Summing Up 2
3 Electricity: Value chain (G T D) Domestic Use D G T Generation Cost Fixed Cost Fuel Cost Transmission Cost Charges Losses Distribution Cost O&M Cost Financing Cost Technical Commercial Losses G+T+D COSTS GO INTO BUILDING TARIFF AS SEEN BY END CONSUMER 3 3
4 What determines Typical Tariff (80:10:10) Consumer tariff has three main components Financial & other Cost O&M Cost Power Cost 1) Power Purchase (80% of total cost) Generation cost Transmission cost 2) O&M Cost Repairs & Maintenance cost Employees cost Administrative cost 3) Financial Cost Depreciation Interest Tax As per National Tariff policy (5.3(h)4) Uncontrollable costs should be recovered speedily to ensure that future consumers are not burdened with past costs. 4 4
5 Who Supplies Bulk Power to Delhi Discoms Most/all PPAs are inherited from DVB era 100% power is sourced from Govt plants All are under long term Power Purchase Agreements (PPA) Power purchase rates are fixed by the Regulatory Commissions (CERC/ DERC) Gencos serve month to month increase in the Fuel cost on actual basis Discoms have Absolutely No control over Power Purchase Cost 5
6 Generation Cost: Significant Increase in recent years Owing to coal issues, imported coal used Extensive Coal blending by NTPC plants Imported coal is much costly than domestic coal Higher ih transport cost Coal sourced from longer distance Continuous Increasein transportation cost Higher fixed cost from new plants More than 60% power from new plants Fixed cost of new plants is much higher than old plants Delhi Discoms power purchase cost is ~32%*higher than national average Some genco s per unit cost work as high as ~Rs 9 p.u. (for FY 15) * Source : PFC report on Utilities Performance for FY11 to FY13 6 6
7 Bulk Power Cost (G+T): Sharp Increase in recent years Cost in Rs / Unit Generation Component Transmission Component 7 7
8 Delhi Electricity Tariff Hike Rs / Unit 12% Overall Retail Tariff increase ~ 90% 21% + 8% No Hike 20% 5% No hike for 5 years between FY 06 to FY11 Ld Led to huge unrecovered cost Only ~90% Tariff hike in last ~12 years against 300% increase in the power purchase cost RST net of E-Tax; * Provisional Artificially suppressed tariff hike of eight years has made the discoms financially weak 8 8
9 Ever increasing revenue gap (upto FY14) ~Rs 21,700 Cr Regulatory Assets for BSES Discoms alone * Source : DERC Staff paper ( Over 27,000 of accumulated Regulatory Assets upto FY 14 (Rs Crs.) Absence of cost reflective tariff led to huge Unrecovered Cost 9 9
10 Discoms Performance 10
11 Loss Reduction achieved TPDDL BSES 51% 57% 40% 11% 40% 17% FY FY 13 14* FY FY 13 14* *FY numbers are provisional & yet to be approved by DERC Massive loss reduction achieved by all discom by multi pronged approach Benefits of loss reduction completely passes on to customers Delhi s spectacular loss reduction of 40% is Unprecedented 11
12 Huge Savings to Government Huge Savings to Delhi Government Rs.54,000 crores till date Rs.7,000 Cr annually hereafter which is ~20% of Delhi govt. budget Hence, more money available for Roads & Infrastructure Streetlights Schools & Hospitals Metro & Buses Above figures are estimated basis for all three private Discoms Huge savings to GoNCTD to continue E Tax : Electricity Tax 12 12
13 Stakeholder Benefitted 13
14 Tariff Comparisons Services / Fuel With Neighbouring Towns / Metros 14 14
15 Power Tariff Vs Essential Services / Fuel 15 15
16 How Services prices have moved??? DTC DJB DMRC Gone up by 150 % Gone up by 590% Increased by 100% Prices of Services has Increased minimum 100% 16
17 How Fuel prices have moved??? Petrol Diesel LPG Coal UP by 147% UP by 218 % UP by 277% UP by 333 % * Thermal Coal CAPP Price Prices of Fuel have Increased by avg. 240% 17
18 Power Tariff Vs Neighbours / Other Metros 18 18
19 DELHI power tariff compared to other Neighboring towns Tariff Cost of alternate Power Delhi power tariff is substantially lower 9 than its neighboring towns Delhi has better power quality 6 24X7 supply 5 Reliability Index of over 99.8% 4 Stable voltage Delhi Noida G'gaon / F'bad 4.29 Jaipur Power cost in other towns is 200% than what is in Delhi, To compare same quality of 24x7 power Note: *08 hrs Load shedding/day impact is taken for NCR towns Alternate power during shed hours taken at Rs 16/unit All calculations are for 200 units of monthly residential consumption DELHI customer pays substantially lower (1/2) compared to other towns 19 19
20 DELHI power tariff compared to Other Metro Cities Note: Tariff comparison for monthly Domestic 200 units /2KW load with FC included. Delhi power rates are substantially cheaper than other Metros 20 20
21 Summing up 21
22 Summing up: Economics of Delhi Electricity Tariff 80% of total cost is Power cost Increased by >300% Uncontrollable cost Retail tariff should have gone up by > 300% As ~300% escalation in power cost Savings due to Huge efficiency gains 205% 40% reduction in AT&C loss & Operating cost Reduced tariff hike required due to huge efficiency gains 95% Entire gains passed on to Customers & Govt. Un recovered Gap in Tariff hike Leading to huge under recovery of ~ Rs. 22,000 Crs. 22
23 Summing up: Price Increase across the board Bulk Power Cost >300% Dearness Allowance 250% Fuel 240 % Services 150% Consumer Price Index 120% Compared to very steep hike in prices of other items Delhi Power Tariff has gone up by 90% 23 23
24 Sustainability Roadmap Time bound recovery of accumulated Regulatory Assets (RA) Time bound & cost reflective tariff in future Power Procurement Cost reduction by reallocation of high cost power by low cost power Link liquidation of power suppliers to amortization of RA Dedicated Police & CISF for theft reduction in sensitive pockets 24
25 Thank You 25
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