India’s electricity consumption surges in first half of FY24

Electricity consumption in India surged by almost 8% to approximately 847 billion units in the first half of this fiscal year (April-September), indicating a notable increase in economic activity.

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During the first half of this fiscal year (April to September), India saw a significant 8% rise in electricity consumption, totalling around 847 billion units, a clear sign of increased economic activity in the country.

Electricity consumption in India increased to approximately 847 billion units (BU) during the period of April to September 2023, compared to 786 BU during the same timeframe in the previous fiscal year. Power consumption in India was impacted by unseasonal rain during April, May, and June, preventing it from achieving double-digit growth.

However, a strong recovery in power demand and consumption was observed starting from August, driven by unusually high humidity levels that led to increased use of cooling appliances such as fans, coolers, and air conditioners. Power consumption in India saw a notable uptick in August and September, attributed to both humid weather conditions and heightened industrial activities in anticipation of the upcoming festive season.

During the period from April to September 2023, peak power demand reached a historic high of 241 GW, a significant increase compared to the 215.88 GW recorded in the first half of fiscal year 2022-23. Initially, the power ministry had projected the country’s electricity demand to reach 229 GW during the summer, but this estimate was not met due to unseasonal rainfall from April to July.

Peak power demand in India reached a new high of 224.1 GW in June but subsequently dropped to 209.03 GW in July. However, there was a resurgence in August, with peak power demand climbing to 238.19 GW, and it achieved a record peak of approximately 240 GW in September of the same year.