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Power consumption in the country increased by roughly 8% year on year to 1,221.15 billion units (BU) from April to December of the current fiscal year, showing increased economic activity. Between April and December 2022–2023, the nation's power consumption was 1,132.11 BU.
According to industry analysts, the first nine months of the current fiscal year have seen an 8% increase in power usage, which indicates a spike in economic activity. The total power consumption for the fiscal year 2022–2023 was 1,504.26 BU, more than the 1,374.02 BU recorded for the fiscal year 2021–2022.
According to estimates from the power ministry, the nation's summertime electricity consumption in 2023 would reach 229 GW. Due to unseasonal rain, demand did not meet expectations between April and July.
The peak demand, however, touched a new high of 224.1 GW in June before dropping to 209.03 GW in July 2023. Peak demand touched 238.82 GW in August. It was at a record high of 243.27 GW in September of this fiscal year. The peak demand was 222.16 GW in October, 204.77 GW in November, and 213.62 GW in December 2023.
According to experts, widespread rainfall affected power consumption in March, April, May, and June this year. The data shows that the power demand has increased by 50.8% in energy terms from 2013-14 to 2022-23. The peak power demand increased from 136 GW in 2013-14 to 243 GW in September 2023.
Speaking about the rising power demand earlier this month in a summit, Union Power Minister R K Singh said, "By 2030, the peak electricity demand is likely to cross 400 GW, indicating the fast growth of the economy. "The demand grew at 9% last year and is growing at 10% this year. On a daily basis, the demand is 8 GW to 10 GW more than the same day of the previous year. There is no other market as big and growing as fast as us."
Singh had also said that the nation will add enough capacity to meet this burgeoning demand.
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