New Delhi, Oct 22 (IANS): Easing of lockdown curbs lifted India’s energy demand in September after a decline of six months, said India Ratings and Research (Ind-Ra) on Thursday.
In a report on India’s power sector, the ratings agency said that in September 2020, the all-India energy demand increased 4 per cent YoY after declining for the six consecutive months to 112.6 billion units.
“This was led by an improvement in the demand from the northern region and the western region due to the further lifting of lockdown for certain economic activities under Unlock 4,” the report said.
“Even though the energy demand has been recovering, the demand over 1HFY21 came in 8.7 per cent YoY lower.”
Besides, the report cited that electricity generation excluding renewables increased 4.4 per cent YoY to 109.8 billion units in September 2020 owing to an 8.4 per cent YoY growth in thermal generation.
It further pointed out that short-term power price at Indian Energy Exchange continued to be low at Rs 2.69 per kWh in September 2020 with a 35 per cent YoY increase in the traded volume witnessed in the day-ahead market.
“The increased power demand in the short-term power market was on account of the favourable prices on the exchanges for both distribution companies and open-access buyers and the gradual lifting of the lockdown,” the report added.