India's power consumption sees modest 1.4% rise to 129.89 billion units in March

India power consumption: The latest government data reveals a marginal increase of 1.4 per cent in India's power consumption, reaching 129.89 billion units (BU) in March compared to the same period last year. Despite this uptick, the growth remained subdued, primarily attributed to favorable weather conditions across the nation, states the report.

In March 2023, the power consumption figure stood slightly lower at 128.12 BU, contrasting with the 128.47 BU recorded in March 2022. Notably, the peak power demand surged to 221.70 GW in March 2024, marking a significant rise from 208.92 GW in March 2023 and 199.43 GW in March 2022.

Industry experts suggest that the subdued power consumption and demand growth in March were largely influenced by pleasant weather conditions nationwide, leading to decreased usage of heating or cooling appliances, especially evident in North India.

Projections from the power ministry indicate an expected peak demand of around 260 GW during the summer season. Anticipating a shift in demand dynamics, experts foresee robust growth in power demand and consumption from April onwards with the arrival of summer.

The power ministry had earlier estimated the country's electricity demand to soar to 229 GW during the summer of 2023. However, this projection was not realized in April-July due to unexpected rainfall. Despite this, peak supply reached a record high of 224.1 GW in June before witnessing a slight decline to 209.03 GW in July.

The subsequent months saw fluctuations in peak demand, with figures reaching 238.82 GW in August 2023, 243.27 GW in September, 222.16 GW in October, 204.77 GW in November, 213.79 GW in December 2023, 223.51 GW in January 2024, and 222.72 GW in February 2024.

Industry analysts point out that power consumption was notably impacted during March, April, May, and June in 2023 due to widespread rainfall. However, there was an upward trend observed in August, September, and October, primarily due to humid weather conditions and increased industrial activities in preparation for the festive season.

With improvements in economic activities and the onset of summer in March, experts anticipate steady growth in power consumption, setting a positive trajectory for the sector's performance in the upcoming months.

(With PTI inputs.)