Power consumption has increased by nearly nine per cent to 1,099.90 billion units (BU) in the country during April-November this fiscal compared to the same period a year ago, showing a surge in economic activities.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The power consumption in the country was 1,010.20 BU in April-November 2022-23, higher than 916.52 BU recorded in the same period of 2021-22. Power consumption in the entire fiscal 2022-23 was 1,504.26 BU, higher than 1,374.02 BU witnessed in 2021-22 financial year.

Industry experts said that around nine per cent growth in power consumption in the first eight months of this fiscal year shows buoyancy in the economy.

The power ministry had estimated the country's electricity demand to touch 229 GW during summer. The demand did not reach the projected level in April-July due to unseasonal rain.

The peak demand, 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 this year, it was at a record high of 243.27 GW. The peak demand was 222.16 GW in October and 204.86 GW in November this year.

According to experts, power consumption was affected in March, April, May, and June this year due to widespread rainfall.

They said power consumption grew in August, September, and October, mainly due to humid weather conditions and also perk up in industrial activities due to the effect of festive rush.

Earlier this week, Union Power Minister R K Singh had told Lok Sabha in a written reply that the power demand has gone up by 50.8 per cent in energy terms from 2013-14 to 2022-23.

The peak power demand has gone up from 136 GW in 2013-14 to 243 GW in September 2023, he informed the House. "We have been able to meet the increase in demand because we added 194 GW of capacity between 2014 to 2023," he had explained.

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.