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India has revised its projections for peak electricity demand upward as energy consumption continues to surpass expectations, driving the nation to expand its significant coal-based power infrastructure.
Government sources indicate that peak electricity demand is now forecasted to reach 384 gigawatts in the 12 months leading up to March 2032, marking a 5% increase from estimates released in May. This adjustment follows a thorough review prompted by a substantial surge in demand last year, fueled by soaring temperatures that led to heightened usage of air conditioners and irrigation pumps.
According to insiders familiar with the matter, the power ministry is yet to respond to requests for comment on the matter.
Electricity demand in India witnessed a 7% increase in 2023 and is projected to sustain an average growth rate of 6% annually through 2026, driven by heightened economic activity, according to the International Energy Agency (IEA). The IEA report from last month underscored that India is poised to add electricity demand equivalent to the entire current consumption of the UK over the next three years.
Peak demand in the previous year soared to 243 gigawatts, surpassing the power ministry's initial projections of 229 gigawatts. In response, India announced plans in December to add nearly 88 gigawatts of new thermal power capacity—primarily coal-fired plants—by early 2032, representing a two-thirds increase from previous plans.
Coal currently constitutes 70% of India's electricity generation and is anticipated to remain a dominant energy source for at least the next decade.
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