)
RGPPL's generation loss was 3,095 million units following an average gas supply of 6.3 MMSCMD during 2011-12. Further, the generation loss during 2012-13 (till date) surged to a record 7,578 million units as the average gas supply dipped to 3.3 MMSCMD. Currently, RGPPL supplies almost entire power to MahaVitaran at the per unit tariff of Rs 4.80.
Senior IDBI Bank official told Business Standard that “The problems of gas supplies leading to stoppage of power generation at Ratnagiri (erstwhile Dabhol) plant is indeed a matter of concern. Many such projects are facing either shortage of gas or coal.” The official said for Ratnagiri Power unit, getting gas looks to be a problem for a moment. It has re-gasification unit in neighborhood which can import gas for operations. However, the price of such imported gas will be high. So the issue is who will pay for higher price.
During 2012-13 the company expects a plant load factor (PLF) of around 30% with around 40% annual fixed cost recovery while PLF during 2013-14 would be around 14% with around 19% annual fixed cost recovery as per current CERC (Central Electricity Regulatory Commission) norms. RGPPL official said that it is unlikely to meet its equity and debt servicing obligations after meeting its operating expenses from its annual revenue.
RGPPL’s petition under section 79 of the Electricity Act, 2003 for the tariff revision following lack of inadequate gas supply is pending for admission by CERC. RGPPL has explored an option of procurement of RLNG to run the project though it has been opposed by MahaVitaran (Maharashtra State Electricity Distribution Company) which procures 95% of the power.
