Weekly Power Sector Round up: 15th January 2022

India’s renewable energy generation to rise 30% by 2024: IEA

India’s renewable energy generation is expected to increase by 30% by 2024, according to a report by the International Energy Agency (IEA).

“As India’s demand for electricity continues to grow, the expansion of generation capacity accelerates from 2022 onwards. While we expect 48 per cent of new demand to be met by coal-fired generation, low-carbon sources provide about half of the additional supply,” said the report titled ‘Electricity Market Report’.

Global electricity demand surged in 2021, pushing prices to unprecedented levels and driving emissions to record highs. The report further added that last year’s increase of over 1,500 terawatt-hours was the largest ever in absolute terms.

DISCOMs’ outstanding dues to GENCOs rise 4.4% in January

Total outstanding dues owed by distribution companies (DISCOMs) to power producers rose 4.4% year-on-year to Rs 1.21 lakh crore in January 2022, according to the PRAAPTI portal.

Total outstanding dues also rose by around the same margin month-on-month.

In January 2022, the total overdue amount, which was not cleared even after 45 days of grace period offered by generators, stood at Rs. 1,01,357 crore as against Rs. 99,650 crore in the same month a year ago.