India's Power Puzzle: Marginal Rise Amidst Mega Trends

India's power consumption slightly increased by about one percent in October 2024 compared to October 2023. This marginal growth is attributed to a higher base effect. Despite this, there was a decline in peak power demand due to the onset of winter in Northern India.

India witnessed a slight uptick in power consumption this October, with figures showing a one percent rise to 140.47 billion units, compared to 139.44 billion units a year ago. This marginal increase is largely attributed to the heavier base effect.

Power consumption had previously surged by over 22 percent from October 2022 to October 2023. However, peak power demand met saw a dip in October 2024 to 219.22 GW from 221.53 GW in the corresponding month last year.

Experts highlight that the decline in power demand during October can be linked to the arrival of the winter season, particularly in Northern India, as the need for cooling appliances wanes. Nonetheless, steady demand driven by commercial and industrial activities is expected to persist.

(With inputs from agencies.)