Weekly Power Sector Round up: 12th June 2021

India’s power consumption grows 12.6% in first week of June

India’s power consumption in the first week of June grew 12.6% year-on-year to 25.36 billion units (BU) indicating a slow recovery in the commercial and industrial demand. The consumption in the same period last year was recorded at 22.53 BU.

Recovery has been slow with the lockdown restrictions in place to mitigate the second wave of COVID-19 in the country. The month-on-month consumption has dropped 3.35%.

DISCOMs’ outstanding dues to GENCOS fall 11.2% in April

Total outstanding dues owed by DISCOMs to power generation companies fell 11.2% to Rs 81,628 cr in April 2021 year-on-year. The dues owed in April 2020 were Rs 91,915 cr, according to the PRAAPTI portal.

This is the second month of reversal seen indicating some relief of stress in the sector. Dues had been increasing on a year-on-year as well as a month-on-month basis for years before March 2021.

The total overdue amount (payment not cleared within 45 days) stood at Rs 68,735 cr as opposed to Rs 76,117 cr in the year ago period.