Power consumption in the country witnessed an on-year rise of nearly 8 per cent to 1,221.15 billion units (BU) during the April-December period of this fiscal, indicating a surge in economic activities.
Power consumption in the country stood at 1,132.11 BU in April-December 2022-23.
Industry experts said that around eight per cent growth in power consumption in the first nine months of this fiscal year shows a surge in economic activities.
Power consumption in the entire fiscal 2022-23 was 1,504.26 BU, higher than the 1,374.02 BU witnessed in the 2021-22 financial year.
The power ministry had estimated the country's electricity demand to touch 229 GW during summer in 2023. 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 2023. Peak demand touched 238.82 GW in August. In September this fiscal year, it was at a record high of 243.27 GW. The peak demand was 222.16 GW in October, 204.77 GW in November and 213.62GW in December 2023.
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.
The data shows 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.
Speaking about the rising power demand earlier this month in a summit, Union Power Minister R K Singh had informed that "By 2030, the peak electricity demand is likely to cross 400 GW, indicating the fast growth of the economy.
"The demand grew at 9 per cent last year, and is growing at 10 per cent this year. On a daily basis, the demand is 8 GW – 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.