Power consumption grew 9.5% to 1,503.65 billion units year-on-year in 2022-23, mainly due to higher demand amid a rise in economic activities, showed government data. Power consumption was 1,374.02 billion units (BU) in 2021-22, according to power supply data from the Central Electricity Authority (CEA).
Similarly, the peak power demand or highest supply in a day also rose to 207.23 GW in the last fiscal, higher than 200.53 GW in 2021-22.
Experts opined that power consumption and demand will see substantial improvement in 2023-24.
The power ministry has estimated peak power demand to touch 229 GW this summer. Ministry has already issued instructions to import coal-based plants to run at full capacity.
It has also asked domestic coal-based plants to import coal for blending to meet the unprecedented demand for electricity this summer.
The experts said the rise in power consumption clearly shows improvement in the economic activities in the country, which pushed the demand for electricity.
They also stated that had there been no rains in March 2023, the power consumption growth would have been in double digits in 2022-23.
The power consumption was affected in March this year due to widespread rains in the country. Power consumption in March 2023 dipped to 126.21 BU from 128.47 BU in the year-ago period.
Power consumption from April 2022 to February 2023 surpassed the 2021-22 level. Consumption from April 2022 to February 2023 stood at 1,377.43 BU, higher than the 1,374.02 BU recorded in the entire 2021-22 fiscal.
According to the experts, power consumption could record double-digit growth in 2023-24.
