Comparison with Major International Electric Utilities
05/28/20
Ranking of Global Power Companies
The Taiwan Power Company (TPC) is the only integrated power company in Taiwan. In order to understand the operations of similar foreign power companies, information must be collected on the national electric business so that the operational effectiveness of TPC can be checked. The results of these comparisons can then serve as a reference for the development of TPC's future strategies and the improvement of performance.
The ranking of the power company's installed capacity (see the table below) is mainly based on the Forbes Global 2000 rankings, and the collection of data from other power companies.
According to the data, the top three power companies were China Energy Investment Corporation, China Huaneng Group, China Huadian Corporation. If the five major power generation groups from China are excluded, TPC ranked 18th.
Power Companies Ranked by Installed Capacity (2018)
| Rank |
Company |
Country |
Installed Capacity
(MW) |
Ownership |
| 1 |
China Energy Investment Corporation |
China |
238,000 |
State-owned |
| 2 |
China Huaneng Group |
China |
176,570 |
State-owned |
| 3 |
China Huadian Corporation |
China |
148,000 |
State-owned |
| 4 |
State Power Investment Corporation |
China |
140,250 |
State-owned |
| 5 |
China DaTang Corportion |
China |
138,918 |
State-owned |
| 6 |
EDF |
France |
89,367 |
State-owned |
| 7 |
Korea Electric Power |
Korea |
81,362 |
State-owned |
| 8 |
Tokyo Electric Power |
Japan |
63,690 |
State-owned |
| 9 |
Saudi Electricity |
Saudi Arabia |
53,500 |
State-owned |
| 10 |
Duke Energy |
United States |
50,880 |
Privately owned |
| 11 |
Eletrobràs |
Brazil |
49,801 |
State-owned |
| 12 |
Southern Company |
United States |
45,824 |
Privately owned |
| 13 |
NTPC |
India |
45,725 |
State-owned |
| 14 |
Nextera |
United States |
45,500 |
Privately owned |
| 15 |
China Yangtze Power |
China |
45,495 |
State-owned |
| 16 |
Eskom |
South Africa |
44,072 |
State-owned |
| 17 |
Comisión Federal de Electricidad |
Mexico |
41,460 |
State-owned |
| 18 |
China Resources Power |
Hong Kong |
37,438 |
Privately owned |
| 19 |
Hydro-Québec |
Canada |
37,310 |
State-owned |
| 20 |
Kansai Electric Power |
Japan |
34,259 |
Privately owned |
| 21 |
TennesseeValley Authority |
United States |
33,727 |
State-owned |
| 22 |
Chubu Electric Power |
Japan |
33,491 |
Privately owned |
| 23 |
Taiwan Power Company |
Taiwan |
33,270 |
State-owned |
| 24 |
Exelon |
United States |
32,463 |
Privately owned |
| 25 |
American Electric Power |
United States |
32,000 |
Privately owned |
| 26 |
Enel |
Italy |
27,624 |
State-owned |
| 27 |
Edp-energias De Portugal |
Portugal |
27,151 |
Privately owned |
| 28 |
Dominion Energy |
United States |
26,000 |
Privately owned |
| 29 |
Iberdrola |
Spain |
25,887 |
Privately owned |
| 30 |
Entergy |
United States |
25,233 |
Privately owned |
Sources：
- Annual reports and related information from various power companies
- Forbes Global 2000 (Electric Utilities 2019)
- Installed capacity of Taiwan Power Company in 2019 was 35,127 MW.
Comparison with Major International Electric Utilities
In order to objectively examine the operational effectiveness of TPC, we compare its performance with the top 20 integrated power companies in terms of installed capacity.
This table is based on a comparison of 10 companies larger scales (excluding RWE and ENEL) and complete information. A number of criteria were selected for comparison and for use as references in the improvement of TPC’s performance. These included line loss rate, average power outage duration, power sales per employee, thermal efficiency.
The Comparative Operational Performance of 10 Integrated Power Companies
| Company |
Installed
Capacity
(MW) |
Power
Generation
(GWh) |
Line Loss
Rate
(%) |
Average Power
Outage Duration
(min/household year) |
Power Sales
per Employee
(10 MWh) |
Thermal
Efficiency
(%) |
CO2
Intensity
(Kg/KWh) |
ROA
(%) |
Credit
Rating |
| 1.EDF |
89,367
(2018) |
450,600
(2018) |
7.7(n)
(2017) |
- |
428
(2018) |
- |
0.017
(2018) |
0.1704
(2018) |
A3
(2018) |
| 2.KEPCO |
81,362
(2018) |
397,902
(2018) |
3.56
(2018) |
8.59
(2018) |
1,235
(2018) |
40.21
(2018) |
0.506
(2017) |
-1.09
(2018) |
Aa2
(2018) |
| 3.TEPCO |
63,690
(2018) |
190,800
(2018) |
4.1
(2018) |
19
(2018) |
692
(2018) |
49.7
(2018) |
0.468
(2018) |
2.04
(2018) |
Baa3
(2018) |
4.Southern
Company |
45,824
(2018) |
200,000
(2018) |
- |
- |
701
(2018) |
- |
0.4978
(2018) |
2.41
(2018) |
Baa2
(2018) |
| 5.ESKOM |
44,072
(2018) |
218,939
(2018) |
11.1
(2018) |
38 hours
(2018) |
498
(2018) |
31.2
(2018) |
0.942
(2018) |
-3.89
(2018) |
B2
(2018) |
| 6.KANSAI |
34,259
(2018) |
104,820
(2018) |
5.05
(2018) |
397
(2018) |
624
(2018) |
49
(2018) |
0.330
(2018) |
2.43
(2018) |
A3
(2018) |
| 7.ENEL |
27,624
(2018) |
53,232
(2018) |
4.7
(2018) |
47
(2018) |
344
(2018) |
41.1
(2018) |
0.369
(2018) |
5.10
(2018) |
Baa2
(2018) |
8.Hydro
-Québec |
37,310
(2018) |
175,545
(2018) |
5.4
(2018) |
411/26*
(2018) |
868
(2018) |
- |
0.001
(2018) |
7.72
(2018) |
Aa2
(2018) |
| 9.CHUBU |
33,491
(2018) |
112,302
(2018) |
4.2
(2018) |
348
(2018) |
735
(2018) |
50.11
(2018) |
0.457
(2018) |
1.96
(2018) |
A3
(2018) |
| 10.RWE |
23,331
(2018) |
110,700
(2018) |
6.8(n)
(2017) |
13.4
(2017) |
1,218
(2018) |
41.6
(2018) |
0.670
(2018) |
0.065
(2018) |
Baa3
(2018) |
| 11.TPC |
33,270
(2018)
35,137
(2019) |
182,662
(2018)
180,443
(2019) |
3.94
(2018)
3.86
(2019) |
16.1874
(2018)
16.488
(2019) |
927
(2018)
915
(2019) |
44.81
(2018)
45.64
(2019) |
0.533
(2018)
0.503
(2019) |
1.49
(2018)
0.88
(2019) |
AA-
(2018)
AA-
(2019) |
Notes：
- The installed capacity of TPC was 33,270 MW in 2018. The company was ranked 18th among integrated global power companies.
- "n" represents national data.
- Line Loss Rate: KEPCO's performance was better than TPC's because the company uses ultra-high-voltage transmission lines (765 KV) and households use 220 V electricity.
- Average Power Outage Duration: Korea and Japan outperform Taiwan because of higher urbanization of power supply areas and automation of distribution.
- Thermal efficiency: South Africa uses HHV and the other countries use LHV.
- Moody's credit ratings: Aaa, Aa1, Aa2, Aa3, A1, A2, A3, Baa1, etc.
S&P's credit ratings: AAA, AA＋, AA, AA-, A＋, A, A-, etc.
- Hydro-Québec's Average Power Outage Duration was divided into Distribution (411 mins/household-year) and Transmission (26 mins/household-year).
- ROA = Income before income taxes / Average total assets
- Power sales per employee =Power sales /Number of employees (Non-Consolidated)
Results and Review
The Taiwan Power Company's performance was above average in the areas of Line Loss Rate, Average Power Outage Duration, and Power Sales per Employee.
The CO2 Intensity category mainly depends on a company’s energy portfolio and its compliance with government policy. In Taiwan, restrictions on the development of renewable energy, the use of natural gas and the decommissioning of existing nuclear power plants will lead to a gradual increase in CO2 Intensity.
The Taiwan Power Company has made continuous improvements in various operating areas over the years. One exception to this is financial indicators. Improvement in this area is limited by the fact that electricity rates do not reflect costs. Despite this, non-financial indicators, such as transmission and distribution efficiency and the quality of power supply, have kept pace with the performances of other major global power companies.