NEW DELHI/BENGALURU: India’s electricity generation grew at the fastest pace in three months in March, government data shows, with a 5.99% increase in production due to increased use of air-conditioning in hot weather and return of employees to offices. Hui.
After forecasting above-normal temperatures in April over most parts of the North-West, North-East and Central regions, demand may pick up further in summer.
These regions such as Madhya Pradesh, Punjab, Rajasthan, Jharkhand, Uttar Pradesh, Maharashtra and Meghalaya recorded the highest power demand growth rates in March, a Reuters analysis of government data showed.
High demand had already forced the non-power sector to cut coal supplies, with plans to auction some of the fuel put on hold. read more
Production from coal-fired utilities, which fuel nearly three-quarters of electricity generation, rose about 3% in March. Renewable energies such as wind and solar helped meet higher demand in March, with production from green sources rising 22.2%, the fastest in seven months.
Production from hydroelectric and nuclear power sources grew at the fastest pace in at least 27 months, the data showed, accounting for a sharp decline in natural gas-powered production.
state-run Coal India Ltd., which accounts for over 80% of the domestic production of coal, saw its production and supply hit a record high during the year ended March 31.
Yet India faced two of its worst power losses in recent years in 2021/22, mainly due to a coal shortage and logistics crisis. The miner aims to increase production by 12.4% to 700 million tonnes in 2022/23.
Analysts say expectations of higher consumption in the coming months and reports of power shortage have propelled the power sector stocks.
Shares of Coal India have gained 9.8% since early March on Friday, while top coal-based utility operators such as NTPC Ltd and Tata Power There is an increase of 7.1% and 10% respectively.
Share of Power Exchange IEX is up 12.2%.
In the seven weeks between 22 August and 8 October, when India faced a massive power shortage amid a sudden surge in power demand due to the Covid-19 lockdown, Coal India shares rose 39%, while NTPC Ltd. grew 23.6%, Tata Power jumped 40.1% and IEX 73.6% in that period.
After forecasting above-normal temperatures in April over most parts of the North-West, North-East and Central regions, demand may pick up further in summer.
These regions such as Madhya Pradesh, Punjab, Rajasthan, Jharkhand, Uttar Pradesh, Maharashtra and Meghalaya recorded the highest power demand growth rates in March, a Reuters analysis of government data showed.
High demand had already forced the non-power sector to cut coal supplies, with plans to auction some of the fuel put on hold. read more
Production from coal-fired utilities, which fuel nearly three-quarters of electricity generation, rose about 3% in March. Renewable energies such as wind and solar helped meet higher demand in March, with production from green sources rising 22.2%, the fastest in seven months.
Production from hydroelectric and nuclear power sources grew at the fastest pace in at least 27 months, the data showed, accounting for a sharp decline in natural gas-powered production.
state-run Coal India Ltd., which accounts for over 80% of the domestic production of coal, saw its production and supply hit a record high during the year ended March 31.
Yet India faced two of its worst power losses in recent years in 2021/22, mainly due to a coal shortage and logistics crisis. The miner aims to increase production by 12.4% to 700 million tonnes in 2022/23.
Analysts say expectations of higher consumption in the coming months and reports of power shortage have propelled the power sector stocks.
Shares of Coal India have gained 9.8% since early March on Friday, while top coal-based utility operators such as NTPC Ltd and Tata Power There is an increase of 7.1% and 10% respectively.
Share of Power Exchange IEX is up 12.2%.
In the seven weeks between 22 August and 8 October, when India faced a massive power shortage amid a sudden surge in power demand due to the Covid-19 lockdown, Coal India shares rose 39%, while NTPC Ltd. grew 23.6%, Tata Power jumped 40.1% and IEX 73.6% in that period.