With the second wave of the coronavirus pandemic keeping a large part of India’s population indoors, the country’s electricity demand dipped in May, according to S&P Global Platts.
India’s low power demand scenario may continue till July. This assumes importance given that energy consumption, especially electricity and refinery products, usually linked to overall demand in the economy.
Also, there were not many takers for coal-fuelled electricity.
“Coal averaged 140 GW in April but declined sharply to only 114 GW for May. The month-on-month decline of 26 GW is the largest on record, even larger than what we observed during the initial stages of the pandemic in 2020. As renewables continue to increase into the summer, we assume coal will average 100 GW for June and July, which is 5 GW lower year on year,” according to a statement from S&P Global Platts.
Electricity demand that had revived following the unlocking after the first wave last year has dipped again, with fresh lockdowns imposed by most states to stem the second wave of pandemic that has claimed many lives.
“India’s power demand averaged 159 GW for May, which is 11 GW higher year on year, but 17 GW lower compared with April.