According to the report, the country’s electricity consumption is projected to increase by 9-10% year-on-year in the current fiscal year, the highest in 10 years.
As per the report by Crisil Market Intelligence and Analytics. “We expect demand to grow a healthy 6-7 percent on-year in the fourth quarter owing to anticipated severe cold waves in parts of the country as well as healthy economic activity. For the full fiscal, electricity consumption is slated to grow at a decadal high of 9-10 percent vis-a-vis 8.2 percent in fiscal 2022,”
Peak demand in December was 206 GW, up 12% year-over-year and 9% month-on-month, driven by higher heating demand from the start of winter and continued growth in industrial activity, which rose by 25%. – Within a maximum of one month per month.
Peak electricity demand in India hit an all-time high of 216 GW in April 2022. Industrial and manufacturing activities also contributed to the increase in demand.
FY23 Q3 output was impacted by a seasonal decline in renewable generation, leaving valuable heat behind to meet growing demand. The government is projecting a peak demand of 230 GW in April 2023.