India’s power demand soared to a record high on May 8, around four months before consumption is usually the highest in a year.
Hot weather, better access to electricity and smoother supply during the ongoing elections led to an increase in maximum demand to an estimated 178.25 GW, higher than 177.02 GW recorded on September 18 last year. But supply during the day was 177.7 GW, around 12 per cent higher than that a year ago because of 40 per cent higher supply from solar, wind and hydel projects, helping spot prices remain stable.
Data from the National Load Despatch Centre (NLDC) showed that the rise in demand was met by an average 55 per cent rise each in solar and wind powergeneration at 140 million units a day and 228 million units a day respectively. Hydel power generation rose 30 per cent to 465 million units a day. Hydel, solar and wind power generation touched a total of 831 million units, equivalent to 10 GW of power, and registered a near 40 per cent growth.
“Increased generation from hydro, wind and solar helped prices at the India Energy Exchange remain almost stable. Prices have been hovering around ?3.4 per unit for the last one month despite rising demand,” said Rajesh K Mediratta, director, business development at India Energy Exchange.