India's Power Consumption Sees Low 1.4% Growth in March

According to government Adata, India's power consumption growth remained subdued at 1.4 percent, reaching 129.89 billion units (BU) in March compared to the same period last year. This marginal growth can be attributed to pleasant weather conditions across the country, leading to reduced usage of heating or cooling appliances, especially in northern India. In March 2023, power consumption was slightly lower at 128.12 BU compared to 128.47 BU in March 2022.

Despite the subdued consumption growth, there was an increase in peak power demand, reaching 221.70 GW in March 2024 compared to 208.92 GW in March 2023 and 199.43 GW in March 2022. Experts suggest that power demand and consumption are likely to see a robust growth starting from April onwards with the onset of summer, as the power ministry estimates a peak demand of around 260 GW during the summer season.

However, projections for electricity demand during summer in 2023 were not met due to unseasonal rainfall, despite the power ministry's estimate of 229 GW. Peak supply reached a new high of 224.1 GW in June 2023 before dropping to 209.03 GW in July.