Power demand may grow by 7% in FY23, says Icra report

13 Dec 2022 , 08:14 AM

According to Icra, the demand for electricity across the entire country is anticipated to increase 7% to 1,480 billion units (BU) in the current fiscal year. The rating agency stated on Monday that the all-Indian power consumption in the previous 2021—22 fiscal was 1,380 BU.

According to a report by Icra, “All-India electricity consumption should stay healthy at above 7% in FY23 despite growth slowing after Q1 of this fiscal, and expand at 5-5.5% in FY24.”

The predictions are based on the fact that during the first eight months of FY2023, amid a severe heat wave in the north and central India, the total electricity demand in India climbed by 10.6% on an annual basis.

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