Weekly Power Sector Round up: 15th May 2021

India’s power consumption grows ~25% in the first week of May

Power consumption in the country grew 25% to 26.24 billion units (BU) year on year from 21.05 BU during the same period last year, showing strong recovery in industrial and commercial demand for power.

Power consumption in May 2020 had dropped significantly following the nationwide lockdown imposed to curb the COVID pandemic. Although demand has recovered, fresh restrictions imposed to contain the second wave are projected to dampen the demand again.

Highest trade volume of 22.42BU reached on IEX in March quarter

The Indian Energy Exchange (IEX) recorded the highest power trade volume of 22.42 billion units (BU) in the March quarter with a year on year growth of 62.1%. 2020/21 saw the highest yearly volume of 73.9BU traded at IEX with a 37.3% year on year growth.

The growth was driven by the competitive power prices, growing consumption of electricity, availability of adequate domestic coal, besides commencement of the new and much awaited market segments such as the real-time market and the green market, an IEX statement said.