Power consumption in November FY24 saw a 5.14% increase, reaching 125.44 billion units (BU), up from 119.30 GW during the same month in FY23, according to government reports. This growth in consumption was accompanied by a slight uptick in peak power demand, which climbed to 207.42 GW in November FY24, compared to 204.56 GW the year before.
The highest peak demand recorded thus far was in May FY24, when it reached about 250 GW, surpassing the previous record of 243.27 GW set in September FY23. Earlier projections by the Ministry of Power had estimated peak demand to be 235 GW during the day and 225 GW during the evening in May. By June, estimates were adjusted to 240 GW during the day and 235 GW in the evening. The summer months had even raised expectations that peak demand could surge to 260 GW.
Experts have pointed out that November FY24 was the warmest in the past four to five years, which may have led to more moderate growth in power consumption. The delayed arrival of winter in northern India, reducing the need for heating appliances like geysers and heaters, contributed to this trend. However, experts remain optimistic, forecasting that power demand and consumption will remain steady moving forward. This is expected to be driven by continued strong commercial and industrial activity, alongside an anticipated drop in temperatures.
