+
North India's Power Demand Rises 22% YoY Due to Heatwave: CRISIL
POWER & RENEWABLE ENERGY

North India's Power Demand Rises 22% YoY Due to Heatwave: CRISIL

In June 2024, North India's power demand surged by 22 per cent compared to the previous year due to an extended heatwave, as reported by CRISIL Market Intelligence & Analytics (MI&A). The heatwave caused temperatures to rise 5-8?C above normal, leading to increased usage of cooling appliances and higher power consumption.

Other regions in India also experienced a rise in power consumption: the northeastern region saw an 8.3 per cent increase, the eastern region 7.8 per cent, and the western region 3.5 per cent. However, power demand in the southern states decreased by 5.1 per cent. Despite the early arrival of the southwest monsoon, 38 per cent of districts in India faced deficient rainfall between June 1 and July 4, which worsened the power demand situation. The northern region was particularly affected, with half of its 209 districts reporting deficient rainfall.

The report noted that Real-Time Market (RTM) volumes on the Indian Energy Exchange (IEX) in the northern region increased by 181 per cent in June. This significant demand spike was met with only an 8 per cent price increase, thanks to higher supplies from coal and gas plants. Nationally, power demand grew by 8 per cent year-on-year to 152 billion units (BU) in June, following a 14 per cent growth in May. Economic activity contributed to this rise, with the Purchasing Managers Index (PMI) increasing to 58.3 in June from 57.5 in May. Peak power consumption in June reached 245.41 GW, following a record high of 250 GW in May.

The report also highlighted a booming short-term power market, with RTM volumes rising by 20 per cent year-on-year in June. This increase indicates the growing need for immediate power delivery during sudden high demand periods. RTM volume share on the IEX climbed to 30 per cent in June, up from an average of 23 per cent since its inception in June 2020.

In June 2024, North India's power demand surged by 22 per cent compared to the previous year due to an extended heatwave, as reported by CRISIL Market Intelligence & Analytics (MI&A). The heatwave caused temperatures to rise 5-8?C above normal, leading to increased usage of cooling appliances and higher power consumption. Other regions in India also experienced a rise in power consumption: the northeastern region saw an 8.3 per cent increase, the eastern region 7.8 per cent, and the western region 3.5 per cent. However, power demand in the southern states decreased by 5.1 per cent. Despite the early arrival of the southwest monsoon, 38 per cent of districts in India faced deficient rainfall between June 1 and July 4, which worsened the power demand situation. The northern region was particularly affected, with half of its 209 districts reporting deficient rainfall. The report noted that Real-Time Market (RTM) volumes on the Indian Energy Exchange (IEX) in the northern region increased by 181 per cent in June. This significant demand spike was met with only an 8 per cent price increase, thanks to higher supplies from coal and gas plants. Nationally, power demand grew by 8 per cent year-on-year to 152 billion units (BU) in June, following a 14 per cent growth in May. Economic activity contributed to this rise, with the Purchasing Managers Index (PMI) increasing to 58.3 in June from 57.5 in May. Peak power consumption in June reached 245.41 GW, following a record high of 250 GW in May. The report also highlighted a booming short-term power market, with RTM volumes rising by 20 per cent year-on-year in June. This increase indicates the growing need for immediate power delivery during sudden high demand periods. RTM volume share on the IEX climbed to 30 per cent in June, up from an average of 23 per cent since its inception in June 2020.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?