1.3 Power Plant and Utility business units Capacity and Sales 2023 2022 %Change Utilization Rate Electricity 62% 62% 0% Steam 59% 57% 2% Sales (Baht million) Electricity 2,410 2,208 9% Steam 1,594 1,590 0.3% Others 240 243 (1%) Total 4,244 4,041 5% Utilization rates of Electricity and Steam: In 2023, the utilization rate of Electricity was 62% being equal to that in 2022 whereas the utilization rate of Steam was 59% in 2023 increasing by 2% from that last year. The net sales of Power and Utility businesses: In 2023, the company recorded the net sales of Power and Utility businesses equaling Baht 4,244 million, up by Baht 203 million or by 5% compared with that in 2022 of Baht 4,041 million thanks to improving average selling prices of Electricity. 2. Total Operating Performance Total Operating Performance of IRPC and its subsidiaries for Year 2023 are as follows Unit: Million Baht Unit: USD per barrel 2023 2022 2023 2022 Average FX (THB/USD) 34.96 35.23 Total Crude Intake (Mbbl) 70.11 63.86 Average Crude (USD/bbl) (1) 86.52 104.67 Sales (2) 319,047 324,800 130.17 144.37 Net Sales (3) 299,075 318,396 122.02 141.52 Variable Cost (Raw Material - Market Price) (279,731) (294,635) (114.12) (130.95) Market GIM 19,344 23,761 7.90 10.57 Stock Gain (Loss) (2,488) 4,384 (1.02) 1.95 Net Realizable Value (NRV) 1,026 (2,347) 0.42 (1.04) Realized Gain (Loss) on Oil Hedging 339 (8,385) 0.14 (3.73) Net Inventory Gain (Loss) (1,123) (6,348) (0.46) (2.82) Accounting GIM 18,221 17,413 7.44 7.75 179 Management Discussion and Analysis (MD&A) 56-1 ONE REPORT 2023
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