India's Power Demand Grows 4.3% in November; Coal Production Sees Improvement

10 Dec 2024

As per Crisil Market Intelligence and Analytics, India's electricity demand increased by 4.3% year-on-year (YoY) to almost 125 billion units (BU) in November 2024, fuelled by a rebound in industrial activity. Industrial and commercial sectors, which together represent nearly half of the nation's total power consumption, were instrumental in driving this growth.

The Purchasing Managers Index (PMI) for November was recorded at 56.5, signalling growth and contributing to the on-going demand recovery. Additionally, peak power demand saw a slight increase, reaching 207 GW for the month, up from 204 GW during the same period last year.

The report stated, "Electricity demand is anticipated to align with economic growth this fiscal year, with GDP expected to increase by 6.8% year-on-year." At the regional level, northern states led the growth rate with a 9% increase in power demand, while western, southern and eastern regions recorded growth rates of around 1%, 2% and 2% respectively.