+
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
Infrastructure Urban

ITCONS Gains on New Rs 3.5 Million Defence Contract

ITCONS E-Solutions is trading at Rs 549.00, up by Rs 12.10 or 2.25 per cent from its previous close of Rs 536.90 on the BSE. The scrip opened at Rs 549.00 and has touched an intraday high and low of Rs 549.00, with 200 shares traded so far.A BSE ‘MT’ group stock with a face value of Rs 10, ITCONS touched its 52-week high of Rs 767.00 on 25 September 2024 and a 52-week low of Rs 166.70 on 5 August 2024. Over the past week, the stock has fluctuated between Rs 560.00 and Rs 510.60. The company's current market capitalisation stands at Rs 3.3 billion.Promoters hold 58.22 per cent of the compan..

Next Story
Infrastructure Urban

Delhi Extends EV Policy Till March 2026

The Delhi government has extended its existing Electric Vehicle (EV) Policy until 31 March 2026, or until a revised version is approved. The decision was made during a Cabinet meeting chaired by Chief Minister Rekha Gupta on Tuesday.According to Transport Minister Pankaj Kumar Singh, the draft of the new policy will undergo broader public consultation before being finalised, prompting the extension to allow time for thorough stakeholder engagement.The consultation process will include inputs from citizens, environmental groups, academic institutions, industry experts, and private firms. Key fo..

Next Story
Infrastructure Urban

Ather Crosses 400 Fast Chargers in Maharashtra

Electric two-wheeler manufacturer Ather Energy announced on Thursday that it has surpassed 400 fast charging points under its Ather Grid network across Maharashtra.The company's fast charging infrastructure now spans 35 cities in the state, including key urban centres such as Mumbai, Nashik, Pune, and Nagpur."Crossing 400 fast chargers in the state is about giving riders the assurance that they'll always find a charger when they need one. As we expand our retail presence, the charging network will continue to grow in tandem to make EV ownership truly seamless," said Ravneet Singh Phokela, Chie..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?