India’s electricity demand growth projected at 4.0-4.5pc this fiscal: ICRA

NEW DELHI, Oct 25: India’s electricity demand declined by 5percent on a year-on-year basis during the first 20 days of October 2025, based on the provisional data from Power System Operation Corporation (POSOCO), a report of ICRA said.
The Investment Information and Credit Rating Agency (ICRA) said that earlier the demand grew modestly between July and September 2025, with a contraction in Q1 FY2026, largely attributed to an unfavorable base effect, early onset of Southwest Monsoon, and above-normal rainfall across the country.
The electricity demand growth has shown a mixed trend in FY2026 so far, and the full-year demand growth is projected at 4.0-4.5percent.
Moreover, prices were also lower than the October 2024 levels at Rs 3.9 per unit, continuing a year-on-year declining trend observed during May-September 2025 due to improved supply position and low-demand growth, the report added.
ICRA said that as on October 17, the coal stock at power plants stood at 14.7 days, moderating from 15.8 days on September 30, owing to a slowdown in supply amid the impact of the monsoons on mining operations.
Nonetheless, the coal stock remains better than that in September 2024 and September 2023. Over the past few months, coal inventories have remained close to the normative levels, and this is a positive indicator for the power sector.
(UNI)

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