Performance of Damodar Valley Corporation

(A) COMMERCIAL:

1. Commissioning of long delayed thermal power projects totaling 1700 MW: During 2016-17, commercial operation of one unit of 500 MW at Bokaro Thermal Power Station (Jharkhand) and two units of 600 MW each (total 1200 MW) at Raghunathpur TPS (West Bengal) was achieved.

2.Decommissioning of old thermal power units: To bring about greater efficiency in DVC's power generation operations Unit No. 1 (130 MW) of Chandrapura TPS was decommissioned in January 2017.

3.As on 01 April 2017, DVC's total thermal and hydel power generation installed capacity is 7640 MW and 147.20 MW respectively.

4.Merchant sale of power (through power exchange) has tripled to 582 MU in 2016-17 compared to 171 MU 2015-16.

(B) OPERATIONAL:

1.Highest ever thermal power generation in DVC’s history of 33312 MU in 2016-17.

2.DVC surpassed by 7.46 % the thermal power generation target of 31,000 MU set for 2016-17 by Central Electricity Authority for DVC in spite of a difficult power market.

3.All time highest daily thermal generation of 113 MU on 23.03.2017. The previous best was 111.94 MU achieved on 05.04.2016.

4.All time highest monthly generation of 3144 MU in March 2017 surpassing the previous high of 3085 MU in April 2016.

5.Thermal power electricity generation of DVC grew at a CAGR of 10 % compared to the national growth of 5.40 % in the last 3 financial years.

6.Year-on-Year growth of 20.89 % of electricity generation in 2016-17 was the highest in the power sector :  

7.No Performance Incentive (PI) paid to coal companies in 2016-17 as compared to Rs 121 crore in 2015-16 and Rs. 218 crore in 2014-15.

8.Rationalization of fuel supply sources/routes in 2016-17 will result in annual savings of Rs. 258 crore to DVC.

9.Drastic reduction in payment of demurrage charges to railways: Rs. 2 crore in 2016-17 compared to Rs. 8 crore in 2015-16.

10.Sale of fly ash through e-auction started - revenue earned so far Rs 4 crore.

(C) FINANCIAL

Negotiated with financial institutions to

1.extend the tenure of existing loans of DVC as a result of which annual cash outflow on account of debt servicing reduced by Rs. 370 crore per annum;

2.reduce interest rates on existing loans resulting in savings of Rs 128 crore per annum.

3.Reduction of long term debt to Rs 19,500 crore (as on 31 March 2017) from Rs 21,560 crore (as on 31 March 2016).

4.12.21 % increase in revenue from Rs 13,096 crore (2015-16) to Rs 14,700 crore (2016-17-provisional). The revenue grew at a CAGR of 8.3 %.

5.Reverse bidding introduced from July 2016 for all high-value contracts - Rs. 12 crore savings up to March 2016.