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India's power consumption climbed 7.5% on year to 1354.97 billion units (BU) between April and January of this fiscal year, showing a rise in economic activity across the country. According to government data, India's power consumption climbed from 1259.49 BU in the April–January period of fiscal 2022–2023 to 1354.97 BU in the current financial year.
According to the data, it was 1505.91 BU for the entire fiscal year 2022–2023. Experts say that the country's 7.5% increase in power consumption indicates a boost in economic activity in the first 10 months of the fiscal year. They stated power consumption increased in August, September, and October due to humid weather and increased industrial activity ahead of the festive season.
Experts are predicting a steady power consumption growth due to improvements in economic activities and cold wave conditions in February. They believe India will have a steady growth in power consumption as well as demand during the current fiscal year.
The National Statistical Office has pegged Indian economic growth at 7.3% in 2023-24, over and above the provisional growth rate of 7.2% during the last financial year in its first advance estimates released in January. The data showed that power consumption in January rose 5.4% to 133.18 BU, compared to 126.30 BU. The peak power demand met the highest supply in a day and rose to 222.32 GW in January 2024. The peak power supply stood at 210.72 GW in January 2023 and 192.18 GW in January 2022.
Experts said that power consumption and demand improved in January as the mercury fell sharply in the month, especially in North India. The cold wave resulted in increased use of heating equipment like heaters, blowers and geysers, which led to increased power demand and consumption. The power ministry had estimated the country's electricity demand to touch 229 GW during the summer of 2023.
The demand did not reach the projected level in April-July due to unseasonal rains. The peak supply, however, touched a new high of 224.1 GW in June before dropping to 209.03 GW in July. Peak demand touched 238.82 GW in August. In September 2023, it was 243.27 GW. The peak demand was 222.16 GW in October, 204.77 GW in November, and 213.62 GW in December 2023. Due to widespread rainfall, industry experts said power consumption was affected in March, April, May, and June last year.
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