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With rains starting to cool down the country, power demand has started to taper off.
The national consumption of electricity in the last one week was 6.4 per cent lower than it was in the last week of June, data from the National Load Dispatch Centre show.
The effect of slowing demand has started to impact spot prices of electricity as well. On the Indian Electricity Exchange or IEX, spot prices for electricity came down 2 per cent month-on-month to ₹3.80 per unit (kilowatt hour) during July. In June, prices had risen 19 per cent month-on-month to reach ₹3.89 per unit.
As per the data, during the week of July 21-27, the total electricity consumption in India was 20,280.6 MU (million units) compared with 21,669.9 MU during the week of June 23-29. The average electricity consumption per day during the previous week was 2,897 MU.
Although electricity demand is coming down, power generators are taking no chances. The actual power generation in the country is beating the targeted power generation, data from the Central Electricity Authority show.
For example, on July 24, India’s power generators excluding renewable sources produced 2,801.04 MU of electricity, which was around 23 MU more than the targeted production.
In fact, between April 1 and July 24, power generators produced 5.34 per cent more electricity than the targeted production.
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