2009-印度电力行业分析与预测.pdf

www.datamonitor.com Datamonitor USA 245 Fifth Avenue 4th Floor New York, NY 10016 USA t: +1 212 686 7400 f: +1 212 686 2626 e: usinfodatamonitor.com Datamonitor Europe 119 Farringdon Road London EC1R 3DA United Kingdom t: +44 20 7551 9000 f: +44 20 7675 7500 e: eurinfodatamonitor.com Datamonitor Middle East and North America Datamonitor PO Box 24893 Dubai, UAE t: +49 69 9754 4517 f: +49 69 9754 4900 e: datamonitormena datamonitor.com Datamonitor Asia Pacific Level 46, 2 Park Street Sydney, NSW 2000 Australia t: +61 2 8705 6900 f: +61 2 8705 6901 e: apinfodatamonitor.com India - Electricity 0102 - 0663 - 2009 © Datamonitor. This profile is a licensed product and is not to be photocopied Page 1 INDUSTRY PROFILE Electricity in India Reference Code: 0102-0663 Publication Date: August 2010 EXECUTIVE SUMMARY India - Electricity 0102 - 0663 - 2009 © Datamonitor. This profile is a licensed product and is not to be photocopied Page 2 EXECUTIVE SUMMARY Market value The Indian electricity market grew by 21.5% in 2009 to reach a value of $104.9 billion. Market value forecast In 2014, the Indian electricity market is forecast to have a value of $281.2 billion, an increase of 168.1% since 2009. Market volume The Indian electricity market grew by 5.5% in 2009 to reach a volume of 729 Twh (Terawatt-hour). Market volume forecast In 2014, the Indian electricity market is forecast to have a volume of 1,105.9 Twh (Terawatt-hour), an increase of 51.7% since 2009. Market segmentation I Industry is the largest segment of the electricity market in India, accounting for 60.3% of the market's total value. Market segmentation II India accounts for 16.2% of the Asia-Pacific electricity market value. Market share National Thermal Power Corporation is the leading player in the Indian electricity market, generating a 26.6% share of the market's volume. Market rivalry Rivalry in the Indian market is no more than moderate. CONTENTS India - Electricity 0102 - 0663 - 2009 © Datamonitor. This profile is a licensed product and is not to be photocopied Page 3 TABLE OF CONTENTS EXECUTIVE SUMMARY 2 MARKET OVERVIEW 7 Market definition 7 Research highlights 8 Market analysis 9 MARKET VALUE 10 MARKET VOLUME 11 MARKET SEGMENTATION I 12 MARKET SEGMENTATION II 13 MARKET SHARE 14 FIVE FORCES ANALYSIS 15 Summary 15 Buyer power 17 Supplier power 19 New entrants 20 Substitutes 21 Rivalry 22 LEADING COMPANIES 23 National Thermal Power Corporation (NTPC) 23 Reliance Infrastructure Ltd 31 The Tata Power Company Limited 38 MARKET FORECASTS 43 Market value forecast 43 Market volume forecast 44 MACROECONOMIC INDICATORS 45 APPENDIX 47 Methodology 47 Industry associations 48 CONTENTS India - Electricity 0102 - 0663 - 2009 © Datamonitor. This profile is a licensed product and is not to be photocopied Page 4 Related Datamonitor research 48 Disclaimer 49 ABOUT DATAMONITOR 50 Premium Reports 50 Summary Reports 50 Datamonitor consulting 50 CONTENTS India - Electricity 0102 - 0663 - 2009 © Datamonitor. This profile is a licensed product and is not to be photocopied Page 5 LIST OF TABLES Table 1: India electricity market value: $ billion, 200509 10 Table 2: India electricity market volume: Twh (Terawatthour), 200509 11 Table 3: India electricity market segmentation I:% share, by value, 2009 12 Table 4: India electricity market segmentation II: % share, by value, 2009 13 Table 5: India electricity market share: % share, by volume, 2009 14 Table 6: National Thermal Power Corporation (NTPC) : key facts 23 Table 7: National Thermal Power Corporation (NTPC) : key financials ($) 28 Table 8: National Thermal Power Corporation (NTPC) : key financials (Rs.) 28 Table 9: National Thermal Power Corporation (NTPC) : key financial ratios 29 Table 10: Reliance Infrastructure Ltd: key facts 31 Table 11: Reliance Infrastructure Ltd: key financials ($) 35 Table 12: Reliance Infrastructure Ltd: key financials (Rs.) 35 Table 13: Reliance Infrastructure Ltd: key financial ratios 36 Table 14: The Tata Power Company Limited: key facts 38 Table 15: The Tata Power Company Limited: key financials ($) 40 Table 16: The Tata Power Company Limited: key financials (Rs.) 40 Table 17: The Tata Power Company Limited: key financial ratios 41 Table 18: India electricity market value forecast: $ billion, 200914 43 Table 19: India electricity market volume forecast: Twh (Terawatthour), 200914 44 Table 20: India size of population (million), 200509 45 Table 21: India gdp (constant 2000 prices, $ billion), 200509 45 Table 22: India gdp (current prices, $ billion), 200509 45 Table 23: India inflation, 200509 46 Table 24: India consumer price index (absolute), 200509 46 Table 25: India exchange rate, 200509 46 CONTENTS India - Electricity 0102 - 0663 - 2009 © Datamonitor. This profile is a licensed product and is not to be photocopied Page 6 LIST OF FIGURES Figure 1: India electricity market value: $ billion, 200509 10 Figure 2: India electricity market volume: Twh (Terawatthour), 200509 11 Figure 3: India electricity market segmentation I:% share, by value, 2009 12 Figure 4: India electricity market segmentation II: % share, by value, 2009 13 Figure 5: India electricity market share: % share, by volume, 2009 14 Figure 6: Forces driving competition in the electricity market in India, 2009 15 Figure 7: Drivers of buyer power in the electricity market in India, 2009 17 Figure 8: Drivers of supplier power in the electricity market in India, 2009 19 Figure 9: Factors influencing the likelihood of new entrants in the electricity market in India, 2009 20 Figure 10: Factors influencing the threat of substitutes in the electricity market in India, 2009 21 Figure 11: Drivers of degree of rivalry in the electricity market in India, 2009 22 Figure 12: National Thermal Power Corporation (NTPC) : revenues namely, engineering, construction, operation and maintenance, and management of various power projects. NTPC is registered as a consultant with several leading international development and financial institutions such as The World Bank, The Asian Development Bank, the African Development Bank, and United Nations Development Program (UNDP). NTPC has a number of subsidiaries. These include: NTPC Electric Supply Company, NTPC Vidyut Vyapar Nigam, NTPC Hydro, Pipavav Power Development Company, Kanti Bijlee Utpadan Nigam, and Bharatiya Rail Bijlee Company. NTPC Electric Supply Company (NESCL) is involved in the execution of work on turnkey basis under the Indian government's rural electrification program called Rajiv Gandhi Grameen Vidyuti-Karan Yojana in 30 districts and five states, namely, Chhattisgarh, Jharkhand, Madhya Pradesh, Orissa, and West Bengal; and the Union Territory of Lakshadweep covering approximately 38,500 villages. NESCL has set up KINESCO Power and Utilities, a fifty-fifty joint venture with Kerala Industrial Infrastructure Development Corporation (KINFRA) to take up retail distribution of power in various industrial parks developed by KINFRA in Kerala and other special economic zones (SEZs) and industrial areas. NESCL also assists the electricity distribution companies (DISCOMs) and utilities for enhancement and bringing the sectoral reforms process and has been participating in the distribution infrastructural development program under consultancy assignments. NTPC Vidyut Vyapar Nigam (NVVN) was formed with an objective to undertake business of sale and purchase of electric power. During FY2009, the company transacted business with various state electricity boards spread all over the country and traded 4.831 billion units of electricity in comparison to 3.324 billion units traded in FY2008. NTPC Hydro's (NHL) objective is to develop small and medium hydro electric power projects up to 250 MW. Presently the company is implementing the following projects: Lata Tapovan Hydro Electric Project (171 MW) in the state of Uttrakhand; and Rammam-III Hydro Electric Project , Stage-III (120 MW) in the states of West Bengal and Sikkim. LEADING COMPANIES India - Electricity 0102 - 0663 - 2009 © Datamonitor. This profile is a licensed product and is not to be photocopied Page 25 Pipavav Power Development Company (PPDCL) was set-up by NTPC in collaboration with Gujarat Power Corporation (GPCL) and Gujarat Electricity Board (GEB) to set up a 1,000 MW thermal power project at Pipavav in Gujarat. However, NTPC dissociated from Pipavav Power Project in May 2007 after obtaining approval of Ministry of Power. Based on the settlement between NTPC, GPCL, and GEB, an amount of INR109 million (approximately $2.4 million) was paid to NTPC towards final settlement in respect of cost of land during FY2008. During the year, a sum of INR22 million (approximately $0.5 million) has been paid by GPCL to NTPC. Further, the Board of Directors of NTPC accorded approval to proceed with the winding up procedure of PPDCL subject to approval of Ministry of Power as required under guidelines issued by Department of Public Enterprises. The Government of India had permitted NTPC for winding up of PPDCL pending final settlement of claims with GPCL and Government of Gujarat. Kanti Bijlee Utpadan Nigam (formerly known as Vaishali Power Generating Company) has been incorporated with Bihar State Electricity Board as per the decision of Government of India to take over Muzaffarpur Thermal Power Station (2 x 110 MW). NTPC has contributed 51% of equity and balance equity was contributed by Bihar State Electricity Board and its nominees. Both units of the transferred station were under renovation and modernization since the date of transfer (and not in operation). The modernization of first unit is under progress, while the second unit, after restoration and refurbishment is on trial operation. Further, pre-award activities for expansion stage consisting of two units of 195 MW each are under progress. Bharatiya Rail Bijlee Company (BRBCL) was incorporated in November 2007 with 74:26 equity contribution from NTPC and Ministry of Railways, Government of India, respectively for setting up of four units of 250 MW each of coal-based power plant at Nabinagar, Bihar. NTPC also has several joint ventures with a number of companies. These include: PTC India, Utility Powertech, NTPC - SAIL Power Company, NTPC - ALSTOM Power Services, NTPC Tamil Nadu Energy Company, Ratnagiri Gas and Power, Aravali Power Company, and NTPC-SCCL Global Venture. Joint ventures of NTPC also include Meja Urja Nigam, NTPC BHEL Power Projects, BF-NTPC Energy Systems, Nabinagar Power Generating Company, National Power Exchange (NPEX), International Coal Ventures, and National High Power Test Laboratory. The main objective of PTC India (PTC) includes trading of power, import/export of power, and purchase of power from private power projects and selling it to state electricity boards (SEBs) and others. The company has 5.28% equity contribution each from NTPC, electricity distribution company Power Grid Corporation of India (Power Grid), financial institution Power Finance Corporation (PFC), and hydroelectric power generation company National Hydroelectric Power Corporation (NHPC), and the balance from hydroelectric power generator Damodar Valley Corporation (DVC), financial institutions, banks, and general public. LEADING COMPANIES India - Electricity 0102 - 0663 - 2009 © Datamonitor. This profile is a licensed product and is not to be photocopied Page 26 Utility Powertech (UPL) is a joint venture company of NTPC and Reliance Energy, an Indian private utility company. The joint venture is, formed to take up assignments of construction, erection, and supervision in power sector and other sectors in India and abroad. NTPC - SAIL Power Company (NSPCL) is a fifty-fifty joint venture company of NTPC and Steel Authority of India (SAIL). NSPCL owns and operates a capacity of 314 MW as captive power plants for SAIL's steel manufacturing facilities located at Durgapur (West Bengal), Rourkela (Orissa), and Bhilai (Chattisgarh), in India. One unit of 250 MW of Bhilai Expansion Project was commissioned in April 2008 and the second unit of 250 MW was commissioned in March 2009. The total capacity of NSPCL in FY2009 was 814 MW. These power plants generated a total of 2.389 BUs in FY2009 as compared with 2.576 BUs during FY2008. NTPC - ALSTOM Power Services (NASL) is a joint venture company with equal equity contribution from NTPC and utility company Alstom Deutschland of Germany. NASL has been formed for taking up renovation and modernization assignments of power plants both in India and abroad. NTPC Tamil Nadu Energy Company is a fifty-fifty joint venture between NTPC and Tamil Nadu Electricity Board. The joint venture is to set up a coal-based power station of 1,000 MW capacity at Vallur Thermal Power Project (Tamil Nadu) in India, using Ennore port infrastructure facilities. Ratnagiri Gas and Power is a joint venture between NTPC, utility company Gas Authority of India (GAIL), Maharashtra State Electricity Board, and Indian financial institutions; with NTPC having a stake of 28.33% for taking over and operating the gas-based Dabhol Power Project (located in Maharashtra, India) and LNG terminal. Aravali Power Company has been formed with Haryana Power Generation Corporation, a Government of the Indian state of Haryana undertaking holding 25% equity; Indraprastha Power Generation Company, a Government of national capital territory (NCT) of Delhi undertaking holding 25% equity; and NTPC holding the balance 50% equity. Aravali Power Company is setting up Indira Gandhi Super Thermal Power Project, a coal fired power plant of 1500 MW (3x500 MW) capacity, in Jhajjar district of Haryana, India. The project is being set up by NTPC on concept-to-commissioning basis. NTPC would also operate and maintain the station on management contract basis for at least 25 years. NTPC-SCCL Global Venture was formed as a joint venture with Singareni Collieries Company (SCCL) to jointly undertake the development, operation and maintenance of coal blocks and integrated coal-based power projects in India and abroad. Meja Urja Nigam is a fifty-fifty joint venture between NTPC and Uttar Pradesh Rajya Vidyut Utpadan Nigam. This joint venture is formed for setting up a power plant of 1,320 MW (2X660 MW) at Meja Tehsil in the district of Allahabad in the state of Uttar Pradesh, India. LEADING COMPANIES India - Electricity 0102 - 0663 - 2009 © Datamonitor. This profile is a licensed product and is not to be photocopied Page 27 NTPC BHEL Power Projects is a joint venture between NTPC and Bharat Heavy Electricals (BHEL) for carrying out engineering procurement and construction (EPC) activities in the power sector and to engage in manufacturing and supply of equipment for power plants and other infrastructure projects in India and abroad. BF-NTPC Energy Systems is a joint venture between NTPC and Bharat Forge. This joint venture intends to establish a facility to take up manufacturing of castings, forgings, fittings, and high