Power demand to jump 7% in FY24

New Delhi: The domestic power demand is expected to rise 7 per cent year-on-year in 2023-24, driven by robust industrial activity, according to Fitch Ratings. In a report, the ratings agency said it also expects the receivable days (payment cycle) to further shorten in the near term.

“Fitch Ratings expects India’s power demand to increase by about 7 per cent in FY24, following a 7.1 per cent rise in 1HFY24, driven by robust industrial activity. This compares with a 9.5 per cent rise in FY23. The strong power demand should keep the average thermal power plant load factor (PLF) above 60 per cent,” the report said.