analyst’s briefing : no.3/2014 · 8/26/2014 · banpu public co ltd glencore international...

ANALYST’S BRIEFING : No.3/2014

August 26, 2014

1

This presentation was made from the analysis of reliable information in order to assist

investment community to better understand the company's financial status and operation. It also

supports the "Good Corporate Governance Project" of the Securities and Exchange Commission

(SEC).

However, the information within this presentation has been derived from the existing factors in

the present time. Therefore, the forward-looking information on this presentation may not occur

in the future if the aforementioned factors or situations are changed. Investors are, nevertheless,

required to use their own discretion regarding the use of information contained in this

presentation for any purpose.

For further information, please contact Investor Relations Section of the Electricity Generating

Public Company Limited (EGCO) at Tel: (662) 998-5145-8 or Email: [email protected]

2

3

► Highlights

► Q2/2014 Financial Results

► EGCO Group’s Overview

Highlights Q2/2014 Financial Results EGCO Group’s Overview

4

► Highlights

♦ Under Construction Projects

♦ Under Development Projects

♦ Activities & Achievements


5

Thailand

Laos

GIDEC

Songkhla

SCOD: October 2014

(almost complete)

XPCL

Xayaburi, Laos PDR

SCOD: October 2019

(30.85%)

KN4

Nakorn Si Thammarat

SCOD: June 2016

(32.50%)

Australia

BRWF

New South Wales,

Australia

SCOD: February 2015

(79.42%)

Under Construction : 4 projects

Philippines


6

► Highlights





7

Thailand

Laos

Australia

Philippines Under Development : 4 projects

CWF

Sub Yai, Chaiyaphum

SCOD: December 2016

TJ Cogen

Klong Luang, Pathum Thani

SCOD: June 2017

TP Cogen

Ban Pong, Ratchaburi

SCOD: February 2017

SK Cogen

Ban Pong, Ratchaburi

SCOD: February 2017


Subyai

Chaiyaphum Wind Farm (CWF)

Project Description

Type: Wind Power Plant

Location: Subyai, Chaiyaphum

Shareholders: EGCO 90%, PVI Group 10%

SCOD: December 2016

PPA with EGAT (SPP Non-Firm)

Contracted Capacity: 90 MW

Adder: 3.50 baht/unit for 10 years

8

CWF


TP Cogeneration Project (TP Cogen) & SK Cogeneration Project (SK Cogen)

Project Description

Type: Cogeneration Power Plant

Location: Ban Pong, Ratchaburi Province

Shareholder: EGCO 100%

SCOD: February 2017

Installed Capacity: 125 MW each

Contracted Capacity with EGAT: 90 MW each

Expected Contracted Capacity with IUs: 23 MW

with 40 T/hr of steam (TP Cogen)


with 60 T/hr of steam (SK Cogen)

TP Cogen

& SK Cogen


9

TJ Cogen

10

TJ Cogeneration Project (TJ Cogen)

Project Description

Type: Cogeneration Power Plant

Location: Klong Luang, Pathum Thani Province


SCOD: June 2017

Installed Capacity: 110 MW

Contracted Capacity with EGAT: 90 MW


with 10 T/hr of steam


11

► Highlights





12

Thailand

Laos

Australia

SBPL

Quezon, The Philippines

SCOD: Q3/2018

Philippines

MPPCL

Zambales, The Philippines

Acquisition date: July 15, 2014

Achievement for signing Power Supply

Agreement with Meralco in SBPL

Achievement for acquisition of shares in MPPCL


San Buenaventura Power Company Limited (SBPL)

Project Description

Type: Coal Fired Power Plant



Location: Quezon Province, Luzon, the Philippines

Shareholders: EGCO 49% and MeralcoGen 51%

SCOD: Q3/2018

PSA: 20 years with Meralco

Project Progress

- Achievement for signing Power Supply Agreement with

Meralco on May 30, 2014

- The effectiveness of PSA will be subject to the review

and approval of ERC of the Philippines 13


Masinloc Power Partners Company Limited (MPPCL)

14

Achievement :

- Achievement for signing of Share Purchase

Agreement to acquire the shares in MPPCL was on

June 25, 2014.

- Acquisition transaction was completed on July 15,

2014 and Shareholders’ Agreement was signed on

the same date.

Achievement



15

Power Plant Description

Type: Coal Fired Power Plant

Technology: Subcritical Pulverized Coal

Installed Capacity: 2x315 MW


Location: Zambales Province, Luzon, the Philippines

COD: Unit 1 - June 1998 / Unit 2 – December 1998

History

- MPPCL was originally developed and owned by NPC, the

Philippines state power utility.

- In 2008, AES acquired MPPCL through privatization auction.

- Upon takeover, AES executed on rehabilitation plan during

2008-2010

- MPPCL is now operating at world class standards

O&M : MPPCL employees

After

Upon turn-over

in April 2008

April 2009,

1 year after turn-over

Rated Capacity

150 - MW

(Unit 1: 150 MW,

Unit 2: 0 MW)

630 – MW

(2x315 MW)

Heat Rate > 12,000 btu/kwh 9,995.5 btu/kwh

(average full load)

Availability

Factor < 50% > 90%

Auxiliary Load > 12% < 8.5%

Environmental

Footprint

Compliant with

Philippine Standards

Surpasses Philippine,

World Bank Standards


16

Luzon

Metro Manila

Masinloc



Masinloc is located

250 Km north of

Metro Manila

17

51.00% 40.95% 8.05%

Masinloc Power Partners Co Ltd

(Phlippines) “MPPCL”



18

70%

20%

10%

Contract Sales Meralco

ECs

Industrial Customers

Power Supply Agreement

Group Term* (yrs) Rate Type Indexation

Meralco 9 CAB Coal, FX, CPI

Electric Cooperatives

(ECs) 4 – 12 BER & TOU Coal, FX, CPI

Industrial Customers

(ICs) 3 - 7 BER & TOU Coal, FX, CPI

Capacity Base Rate (CAB):

• capacity fee and fixed O&M fee paid regardless of dispatch (subject to

availability performance), variable O&M and energy fee paid based on

energy delivered

Bilateral Energy Rate (BER):

• fixed rate paid based on energy delivered + annual take-or-pay

volumes

Time-of-Use Rate (TOU):

• similar to the BER except the fee paid varies depending on the hour of

the day + annual take-or-pay volumes

* Term including the remaining term and extension provision (as of 2014)



Coal Supply Arrangements and Strategy

• 75% of requirement sourced under term contracts, the remaining is purchased at spot.

• Freight Swaps, tap into freight opportunities provided by multi freight contract among AES group

Coal Source • Coal sources are Indonesia, China and Australia

Current Coal Suppliers and Transportation

• Coal Supply Agreements (CSAs) are entered with a diverse group of suppliers Vitol Group Banpu Public Co Ltd Glencore International AGCoal

• Coal Transportation Agreements (CTAs) are signed with 2 credible transporters

Term • CSA term vary from 3-5 years

• CTA duration is 5 years

Coal Price

• FOB coal price based on globalCoal NEWC Index with a fixed premium

• Basis heating value of coal is 6,300 kCal/kg.

• Coal transportation component based on a FIOT basis for Load Ports Indonesia/Australia

Coal Stockpile • Minimum 25 days of coal stock at site

19



*AGM on April 24, 2014 approved the appropriation of net profit from the second half-year operation of 2013 at 3.25 baht for the final dividend

payment on May 2, 2014.

* BOD at the meeting on August 23, 2014 approved the interim dividend payment for the first half- year operation at 3.00 baht to be paid on

September 19, 2014.

1.00 1.25 1.25

1.50 1.50 2.00

2.25 2.50 2.50 2.50 2.50

2.75 2.75 3.00

1.25 1.25

1.50 1.50

1.75

2.00

2.50 2.50

2.75 2.75 2.75

3.25 3.25

-

1.00

2.00

3.00

4.00

5.00

6.00

7.00

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Second Payment Interim Payment

Baht/Share

6.00

5.25 5.00

5.25 5.25

4.75

4.00

3.25 3.00

2.75 2.50

2.25

6.00


20

21

► Highlights




2,110

2,566

-206

13

-69

-234

-212

126

-500

-

500

1,000

1,500

2,000

2,500

3,000

Q2/2013 (restated) Q2/2014

Net Profit Before FX, DT& TFRIC FX Deferred Tax TFRIC4&12

Million Baht

MD&A

+456 MB or +22%

22

2,471

1,623 Net Profit

+848 MB or +52%


Million Baht

23

2,053

2,522

57

44

-

500

1,000

1,500

2,000

2,500

3,000

Q2/2013 (restated) Q2/2014

Others Power Generation

2,566

2,110

MD&A

+456 or +22%


24

49 259

(14) 162

0

500

1,000

1,500

2,000

2,500

3,000Increase in AP

BLCP 207

KEGCO (126)

GPG (17)

Rayong (15)

2,159

2,418

2,110

2,566

Q2/2014 Q2/2013

Construction &

Development

SBPL (6)

GIDEC (5)

BRWF (3)

Solar & Wind

YEH 144

NED 10

GPS 6

SPP5 3

TWF 1

SPP3 (2)

Operating Performances

QPL 220 North Pole (245)

KEGCO 164 BLCP (83)

NTPC 144 GPG (39)

EGCO 113 ESCO (29)

GEC-SPP 24 Roi ET (5)

Rayong 3 EGCO Cogen (4)

Egcom Tara 3 Others (8)

MME 1

2,404 2,566

Million Baht


25

4,098 4,435

-88

54 34

173

-27

293

-200

300

800

1,300

1,800

2,300

2,800

3,300

3,800

4,300

4,800

5,300

6M2013 (restated) 6M2014

Net Profit Before FX, DT& TFRIC FX Deferred Tax TFRIC4&12

Million Baht

MD&A

+337 MB or 8%

Net Profit

+940 MB or +23%

4,956

4,016


27%

20%

15%

13%

13%

6%

4%

26

BLCP 1,473 MB

Quezon 1,084 MB

(QPL,QMS,PEPOI)

GPG(KK2) 717 MB

Note: Excluding EGCO

SOLAR & Wind 789 MB

(GPS,SPP2-5,NED,YEH,

Theppana)

Rayong 233 MB

SPP 323 MB

(GEC, EGCO Cogen, Roi-Et Green)

ET 72 MB, 1% ESCO 58 MB, 1% Unit: Million Baht

NTPC 686 MB


USD 893 M

THB 19,337 M

JPY 210 M

Total Outstanding

(Baht Equivalent) THB 52,106 M

Total Outstanding

As of 30 June 2014

USD 861 M

THB 20,472 M

JPY 210 M

THB 54,498 M

Total Outstanding

As of 31 Mar 2014

27

AUD 122 M AUD 191 M


0.23 0.21 0.25

0.70

0.87 0.89

0.18 0.17 0.23

0.41 0.44

0.41

0

0.1

0.2

0.3

0.4

0.5

0.6

0.7

0.8

0.9

1

2009 2010 2011 2012 2013(Restate) 6M/2014

EGCO+Subsidiaries EGCO

Debt 23,117

Equity 56,103

Debt Equity

Debt 65,227

Equity 73,165

Debt Equity

EGCO + Subsidiaries

Unit: MB

EGCO

Unit: MB

Times (X)

28


29

Million Baht

2012 2013 2014

Investment of EGCO Group (EGCO PORTION)

21,942 14,488 15,318

Descriptions 2014 CAPEX Cost

(EGCO Portion)

6M2014

CAPEX Cost

(EGCO Portion)

1. Boco Rock Wind Farm (BRWF) 5,837 4,428

2. KN4 5,157 4,130

3. Chaiyaphum Wind Farm (CWF) 1,509 -

4. SK Project 699 -

5. TP Project 699 -

6. TJ Project 100 -

7. Xayaburi 1,317 992

Total-Developing 15,318 9,550


30

► Highlights




31


♦ EGCO Shareholders

♦ Portfolio and Corporate Strategies


EGAT

25.41%

TEPDIA

23.94%

Thai Investors

15.16%

Foreign Investors

20.88%

NVDR 10.43% NVDR

14.61%

32

TEPCO 50%

Mitsubishi 50%

As of March 21, 2014

* Nuclear Damage Liability Facilitation Fund

NDF* 50.11%

Others 49.89%


33


♦ EGCO Shareholders

♦ Portfolio and Corporate Strategies


IPPs SPPs Renewable Overseas

34

Currently, EGCO Group’s portfolio comprises of 21 operating power plants, totaling contracted capacity 4,759.46 MWe.

278.23 MWe

5.85%

3,330.44 MWe

69.98%

1,050.05 MWe

22.06%

100.74 MWe

2.12%

Total 4,759.46 MWe

IPPs

Rayong 1,174.99 1,174.99

KEGCO 748.20 748.20

GPG (KK 2) 1,468.00 734.00

BLCP 1,346.50 673.25

3,330.44

Power Plant MW EquityContracted

Cap. (MW)

Renewable

NED 63.00 21.00

SPP2 8.00 8.00

SPP3 8.00 8.00

SPP4 6.00 6.00

SPP5 8.00 8.00

GPS 26.00 15.60

TWF 6.90 6.21

Solarco 57.00 27.93

100.74


Cap. (MW)

Overseas

NTPC 1,023.00 358.05

QUEZON 460.00 450.80

MPPCL 589.00 241.20

1,050.05

SPPs

EGCO COGEN 112.18 89.74

ROI-ET GREEN 8.80 6.19

GEC-GCC 108.63 54.32

GEC-NKCC 121.30 60.65

GEC-SCC 114.45 57.23

GEC-GYG 20.20 10.10

278.23


Under Construction Under Development

Currently, EGCO Group’s portfolio consists of 4 under construction projects and 4 under development projects,

totaling contracted capacity 1,613.25 MWe.

Total 1,613.25 MWe

407 MWe

25.2%

1,206.25 MWe

74.8%

35

Under Construction

GIDEC 6.50 3.25

BRWF 113.00 113.00

KN4 930.00 930.00

XPCL 1,280.00 160.00

1,206.25

Contracted

Cap. (MW)Power Plant MW Equity

Under Development

CWF 90.00 81.00

TP Cogen 113.00 113.00

SK Cogen 107.00 107.00

TJ Cogen 106.00 106.00

407.00


Cap. (MW)


Currently, EGCO Group’s other business portfolio comprises of 6 companies:

36

Company Business Type

EGCO Engineering and Service Co., Ltd. (ESCO)

Pearl Energy Philippines Operating Inc. (PEPOI)

Quezon Management Services Inc. (QMS)

Eastern Water Resources Development and Management Plc. (EASTW)

Egcom Tara Co., Ltd. (Egcom Tara)

Manambang Muara Enim Co., Ltd. (MME)

O&M

O&M

Management Service

Water

Water

Coal Mining


XPCL

(Hydro)

KN4

(Gas)

BRWF

(Wind)

GIDEC

(Waste)

2014 2015 2016 2017 2018 2019 2020

Under Construction Projects

Under Development Projects 37

TP Cogen

(Gas) CWF

(Wind) SK Cogen

(Gas)

TJ Cogen

(Gas)

SBPL

(Coal)

Under Development Projects

Under Construction Projects

Potential Project (Waiting for ERC ’s Approval)

THANK YOU

38

Appendices

39

40

Classified by Producer Classified by Fuel type

As of June 2014, Thailand’s Power Installed Capacity was 34,179.02 MW.

EGAT : 14,708 MW SPP : 3,525 MW

IPP : 13,542 MW Import : 2,404 MW

Natural Gas : 23,402 MW Coal : 4,609 MW

Hydro : 5,541 MW Others* : 627 MW

*OTHERS = Fuel Oil, Diesel, Renewable

Source: EGAT

43.0%

39.6%

10.3%

7.0%

EGAT IPP SPP IMPORT

68.6%

16.2%

13.4%

1.8%

NATURAL GAS HYDRO COAL OTHERS*

15,000

20,000

25,000

30,000

January Februaary March April May June July August September October November December

2009 2010 2011 2012 2013 201441

MW

Source: EGAT

26,253.29 MW (June 3, 2014)

- 1.3%

26,598.14 MW (May 16, 2013)

Key Financial Data:

FX Variance MD&A

42

Key Financial Data:

Deferred Income (Expense) Tax

43

14

193

(13)

(291)

(43)

10

91

13

(32)

161

4

43

9 7

103

(2)

(300)

(250)

(200)

(150)

(100)

(50)

-

50

100

150

200

RYPP KEGCO Roi-EtGreen

BLCP GPG GYG NTPC ET

6M2013

6M2014

Key Financial Data:

Impact of the Adoption of TFRIC 4 and TFRIC 12

44

Million Baht

* FX gains/losses from Income Statements including financial cost from foreign currency loans (EGCO & Subs) and JVs 45

6M/2013 6M/2014

Debt to Equity (Time) 0.73 0.89

Net Debt to Equity (Time) 0.74 0.75

Net Profit before FX* (Million Baht) 4,124 4,608

EPS (Baht) 7.68 8.86

Operating Cash Flow / share (Baht) 3.24 6.98

BV / share (Baht) 126.81 137.27

Financial Ratio Highlights

Key Financial Data:

46

Segmental Operating Results, Ended June 30, 2014

Key Financial Data:

(Million Baht) EGCO

Rayong

power

plant

KEGCOEGCO

Cogen

Roi-Et

GreenSPP4 SPP3 YEH SPP2 SPP5 TWF

QPL

(included

PEPOI&QMS)

BRWF BLCP GPG

GCC,

NKCC,

SCC,

GYG

NED CONAL NTPC GPS GIDEC SBPL ESCO ET MME APPC

Sales of Electricity - 1,052 776 1,218 190 76 98 703 102 98 37 5,341 - 9,691 - - - 9,691

- Capacity Payment - 1,023 742 120 22 - - - - - - - - 1,907 - - - 1,907

- Energy Payment - 29 34 1,098 168 76 98 703 102 98 37 5,341 - 7,784 - - - 7,784

Sales of Water - - - - - - - - - - - - - - - 159 159 159

Service Income - - - - - - - - - - - - - - 206 - 206 206

Cost of Sales - 743 661 1,155 104 19 24 158 25 24 16 2,973 - 5,902 - 43 43 5,945

Cost of Services - - - - - - - - - - - - - - 121 - 121 121

Gross Profit - 309 115 63 86 57 74 545 77 74 21 2,368 - 3,789 85 116 201 3,990

EBITDA (547) 783 396 103 72 72 94 675 96 93 28 2,399 (6) 2,378 1,214 465 256 1,332 151 (12) (17) 10,025 76 100 - 176 10,201

EBIT (570) 242 (32) 33 63 57 75 545 76 75 18 1,947 (6) 1,856 864 324 205 1,044 112 (12) (17) 6,899 66 95 - 161 7,060

Net Profit before FX and

deferred income tax(895) 233 (65) 21 54 39 50 352 53 52 6 1,084 (6) 1,473 717 248 159 686 78 (13) (17) 4,310 58 72 (5) 125 4,435

Net Profit before FX (801) 245 (53) 21 53 39 50 352 52 52 7 1,083 65 1,504 717 205 159 686 78 (13) (17) 4,483 58 72 (5) 125 4,608

Net Profit (659) 245 (27) 22 52 39 50 340 52 52 9 1,097 72 1,397 739 213 158 643 78 (13) (19) 4,540 56 72 (5) 123 4,662

6M2014 HoldingSubsidiaries Joint Ventures

Total

Power

generation

Subsidiaries

Total

Other

businesses

Grand

Total

Power Generation Power Generation Others Others

Joint Ventures

47

Segmental Operating Results, Ended June 30, 2013

Key Financial Data:

(Million Baht) EGCO

Rayong

power

plant

KEGCOEGCO

Cogen

Roi-Et

GreenSPP4 SPP3 YEH SPP2 SPP5 TWF

QPL

(included

PEPOI&QMS)

BRWF BLCP GPG

GCC,

NKCC,

SCC,

GYG

NED CONAL NTPC GPS GIDEC SBPL ESCO ET MME APPC

Sales of Electricity - 1,111 1,078 1,244 167 74 97 - 100 97 - 5,005 - 8,973 - - - 8,973

- Capacity Payment - 1,051 1,046 58 20 - - - - - - - - 2,175 - - - 2,175

- Energy Payment - 60 32 1,186 147 74 97 - 100 97 - 5,005 - 6,798 - - - 6,798

Sales of Water - - - - - - - - - - - - - - - 153 153 153

Service Income - - - - - - - - - - - - - - 364 - 364 364

Cost of Sales - 761 679 1,131 81 19 25 - 27 26 - 2,961 - 5,710 - 44 44 5,754

Cost of Services - - - - - - - - - - - - - - 249 - 249 249

Gross Profit - 350 399 113 86 55 72 - 73 71 - 2,044 - 3,263 115 109 224 3,487

EBITDA (642) 830 739 148 75 70 91 13 93 89 (2) 2,338 - 2,094 1,515 503 215 161 1,054 140 (3) - 9,521 107 96 (13) (15) 153 9,696

EBIT (666) 278 278 79 66 55 72 13 73 70 (2) 1,928 - 1,567 1,132 366 167 78 795 101 (3) - 6,447 95 88 (13) (15) 155 6,602

Net Profit before FX and

deferred income tax(960) 270 110 64 54 35 45 12 47 45 (3) 1,113 - 1,294 958 299 119 35 376 73 (4) - 3,982 81 68 (14) (19) 116 4,098

Net Profit before FX (658) 167 115 63 54 35 45 6 47 45 (3) 1,021 - 1,223 958 299 119 33 376 73 (4) - 4,016 81 67 (13) (19) 116 4,132

Net Profit (837) 167 115 62 65 35 45 (10) 47 45 (7) 1,001 - 1,287 939 292 119 34 459 73 (4) - 3,929 80 67 (13) (19) 115 4,044

6M2013 HoldingSubsidiaries Joint Ventures

Total

Power

generation

Subsidiaries Joint Ventures

Total

Other

businesses

Grand

Total

Power Generation Power Generation Others Others

Net Generation

GWh

Electricity Sales MM Baht

REGCO and KEGCO receive the capacity payment (Rayong Power Plant) or availability payment (KEGCO) for maintaining the availability of the power plants, regardless of whether the electric power will be supplied to EGAT

or not.

EGAT is the sole offtaker for electricity produced by Rayong Power Plant and KEGCO under long term cost-plus based Power Purchase Agreements (PPAs).

48

Annual Net Generation & Electricity Sales for the Year 2009-2013

Operating Performance (IPPs) : 2

,952

4,7

83

2,1

27

4,0

04

2,6

93 5

,643

5,4

76

5,8

16

5,3

11

5,1

88

10,0

18

10,0

36

10,6

17

10,7

70

10,1

57

9,3

29

9,8

57

8,8

13

10,8

48

9,3

23

-

4,9

76

6,3

61

5,7

70

5,8

97

-

3,000

6,000

9,000

12,000

2009 2010 2011 2012 2013

RYPP KEGCO BLCP KK II NT2

3,7

22

2,5

35

2,2

58

2,1

67

2,2

01

2,3

19

2,7

88

2,1

70

1,7

62

2,0

38

17,9

09

17,7

06

17,8

68

18

,50

5

17,2

55

22,5

06

22,7

50

22

,65

5

29,6

49

27

,47

0

-

6,3

17

7,6

72

8,1

07

7,9

37

-

5,000

10,000

15,000

20,000

25,000

30,000

2009 2010 2011 2012 2013

49

Major Maintenance Expenses for the Year 2014

Operating Performance (IPPs) :

Million Baht

Quarter 1 2 3 4 Total

Actual Actual Budget Budget

Spare Parts 3.06 0.24 0.00 0.00 3.30

Service Charge 15.21 6.45 7.21 7.21 36.08

Total 18.27 6.69 7.21 7.21 39.38


Actual Actual Budget Budget

Spare Parts 33.47 12.39 15.31 5.22 66.39

Service Charge 23.95 4.63 25.05 4.96 58.58

Total 57.42 17.02 40.36 10.18 124.97

Rayong Power Plant

KEGCO

Million Baht

50

Major Maintenance Expenses for the Year 2013



Actual Actual Actual Actual

Spare Parts 10.67 2.12 5.66 0.22 18.67

Service Charge 25.74 23.12 21.44 7.80 78.10

Total 36.41 25.24 27.10 8.02 96.77


Actual Actual Actual Actual

Spare Parts 19.09 15.93 27.68 51.64 114.34

Service Charge 21.84 33.03 39.57 48.69 143.14

Total 40.93 48.96 67.25 100.33 257.48

Rayong Power Plant

KEGCO

Operating Performance Equivalent Availability Factor


51

Rayong Power Plant

Target EAF (%) Actual EAF (%) Target EAF (%) Actual EAF (%) Target EAF (%) Actual EAF (%) Target EAF (%) Actual EAF (%)

CCGT #1 81.85 85.83 98.44 99.06 98.80 97.82 95.90 97.12

CCGT #2 99.63 99.66 97.60 98.47 82.25 83.44 96.74 98.00

CCGT #3 90.19 92.95 97.60 98.44 99.64 99.50 95.90 97.43

CCGT #4 99.49 100.00 98.31 99.10 97.87 97.10 96.65 96.59

Rayong Power Plant


CCGT #1 95.93 100.00 97.92 99.09 99.12 99.12

CCGT #2 99.07 98.48 95.63 99.09 98.28 99.12

CCGT #3 89.47 93.33 96.54 99.00 98.89 98.28

CCGT #4 98.89 100.00 95.42 99.19 98.91 98.98

KEGCO


Barge #1 - - - - - - - -

Barge #2 94.00 99.51 63.01 66.83 78.67 88.18 92.90 87.36

CCGT #3 79.87 87.31 80.53 86.88 91.66 95.10 66.22 79.50

KEGCO


Barge #1 -

Barge #2 91.00 82.90 91.00 96.00 91.00 90.38

CCGT #3 83.60 86.00 82.19 99.29 87.87 94.94

2014

Plant Type1Q14 2Q14 3Q14 4Q14

2013


2014


2013


52

Net Generation and Fuel Consumption


Rayong Power Plant

CCGT #1- 4 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14

Net Generation

- By Natural Gas (GWh) 979 1,146 288 280 441 560

- By Secondary Fuel (GWh) - 0.170 - - 0.160 -

Fuel Consumption

- By Natural Gas (MMBTU) 8,432,352 9,904,901 2,557,558 2,483,331 3,906,610 4,951,634

- By Secondary Fuel (Million Litre) - 0.040 - - 0.040 -

KEGCOBarge # 2 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14

Net Generation -

- By Natural Gas (GWh) 142 98 130 124 115 130

- By Secondary Fuel (GWh) - - - - - -

Fuel Consumption -


- By Secondary Fuel (Million Litre) - - 0.004 0.002 0.029 0

CCGT # 3 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14

Net Generation -

- By Natural Gas (GWh) 1,162 1,181 1,288 1,062 1,099 1,302

- By Secondary Fuel (GWh) - - - - - -

Fuel Consumption -


- By Secondary Fuel (Million Litre) 0.01 0.01 - - - 0.02

2014

20142013

2013

53

GIDEC Waste Power Plant Project (GIDEC)

Project Description

Type: Municipal Solid Waste Plant

Location: Hat Yai, Songkhla Province

Shareholders: EGCO 50%, IEC Green Energy 50%

Expected COD: October 2014

PPA with PEA (VSPP Program)

Contracted Capacity: 6.5 MW

Adder: 3.5 baht/unit for 7 years

Project Progress

- Construction work was almost complete, individual function test

of each equipment is ongoing.

- Steam flushing/blowout was complete. Commissioning of boiler,

steam turbine, generator and BOP are under preparation.

54

Boco Rock Wind Farm (BRWF)

Project Description

Type: Wind Power Plant (Green Field)

Location: New South Wales, Australia


SCOD: February 2015

PPA: 15 years with Energy Australia Pty Ltd.


Project Progress

- Ending Q2/2014, the progress of work was 79.42%.

- Construction work is progressing well, installation of 21 WTGs

was complete.

55

Khanom Power Plant Project Unit 4 (KN 4)

Project Description

Type: Combined Cycle Power Plant

Location: Khanom, Nakhon Si Thammarat Province

Shareholder: EGCO 99.99%

SCOD: June 2016

PPA: 25 years with EGAT


Project Progress

- Ending Q2/2014, the overall project progress was 32.50%.

- Piling and foundation works are ongoing ahead of the planned

schedule.

Xayaburi Power Company Limited (XPCL)

Project Description

Type: Hydro Power Plant Project, Run off River

Location: Xayaburi District, Laos PDR

Shareholders: EGCO 12.5%, CK 30%, EDL 20%, BECL 7.5%,

Natee Synergy 25%, PT Construction and

Irrigation Co., Ltd. 5%

SCOD: October 2019

PPA: 29 years with EGAT and EDL

Contracted Capacity with EGAT: 1,220 MW

Contracted Capacity with EDL: 60 MW

Project Progress

- Ending Q2/2014, the progress of work was 30.85%.

- Design of Navigation Lock, Spillway and Intermediate Block were

approved, detailed design for Powerhouse and Fish Passing

Facilities is continuing. Construction work is progressing.

56

For further information, Please contact

Investor Relations at Tel. 02-998-5147-8

or E-mail: [email protected]

57

analyst’s briefing : no.3/2014 · 8/26/2014 · banpu public co ltd glencore international...

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