OHPC profit dips 8% on poor hydro power generation

Company generated 4,632 mn units of power in FY13, against 4,837 mn units produced in the previous year

State owned Odisha Hydro Power Corporation (OHPC), the sole generator of hydro power in the state, has reported 8 per cent fall in net profit to Rs 70 crore in 2012-13 due to lower generation in the winter season.

"During 2012-13, we generated less power as we wanted to store water for summer season in 2013-14. We did not want to repeat the situation of last summer when hydro power generation dropped sharply due to low water level in reservoirs," said Sahadev Khatua, managing director of the state PSU.

The company generated 4,632 million units of power in the year ended March 2013, against 4,837 million units produced in the previous year out of its seven generating stations across the state. The production was curbed despite better monsoon rains keeping in view the summer demand.

Even though hydro electricity generation does not contribute significantly to meet the state's power demand, cash-strapped Gridco depends on it heavily due to its low cost and easier availability. Last summer, thermal units operating in the state had to shut down operations frequently due to technical glitch or coal supply problems, compelling power trader Gridco to look for other sources, such as hydro power plants to meet its needs.

During June-July 2012, total hydro power generation was only 250 Mw as major reservoirs in the state had water below MDDL (minimum draw down level) because of poor monsoon in 2011.