Demand for electricity across India could rise 7% in FY23

According to Icra, the demand for electricity across the entire country is anticipated to increase 7% to 1,480 billion units (BU) in the current fiscal year. The demand for electricity across all of India was 1,380 BU in the previous fiscal year 2021–2022. Despite a slowdown in growth after the first quarter of this fiscal year, all-India electricity demand is expected to remain healthy at over 7% in FY23 and expand at 5-5.5% in FY24. The predictions are based on the fact that during the first eight months of FY2023, during a severe heat wave in north and central India, the demand for power climbed across the country by 10.6% on an annual basis. The average thermal PLF (plant load factor) level for gencos/IPPs (power generation companies/independent power producers) at the all-India level is improving as a result of rising energy demand and moderate capacity increase in the thermal segment. Also read: Govt to take steps to meet 230 GW peak demand in April 2023 CCI clears Tanweer Infrastructure's acquisition