India’s short-term power trading market grows 12% in FY24

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Power trading in India’s short-term market rose by 12% in FY24, reaching 218.22 billion units (BU) from 194.35 BU in FY23, as reported by the Central Electricity Regulatory Commission (CERC). Short-term transactions, including deviation settlement mechanism (DSM) volumes, consist of contracts under one year, executed bilaterally or through power exchanges, representing 12.5% of the country’s total electricity generation. The remaining 87.5% was sourced through long-term contracts and intra-state transactions by distribution companies. The CERC report…

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Power supply and allocation overview for September 2024

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Peak Power Demand Northern Region: The Northern region saw a substantial peak demand, with Uttar Pradesh leading at 30,618 MW, followed by Rajasthan and Punjab. While the peak met rate was largely consistent with demand, regions like Jammu & Kashmir and Uttarakhand saw deficits. Jammu & Kashmir experienced a 12.4% shortfall in meeting the demand, which stood at 3,236 MW, while Uttarakhand faced a smaller gap of 2.9%. Western Region: Maharashtra recorded a high peak…

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India surpasses 200 GW renewable energy milestone

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India has crossed a major milestone in its renewable energy journey, with the nation’s total renewable energy capacity reaching 201.45 GW as of October 10, 2024, according to the Central Electricity Authority (CEA). When including the 8,180 MW of nuclear power, non-fossil fuel-based energy now accounts for nearly half of India’s total installed electricity generation capacity, which stands at 452.69 GW. Solar power leads India’s renewable energy contributions, generating 90.76 GW, followed by wind power…

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IEX posts 24% growth in trading volume, REC prices hit all-time low in September 2024

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The Indian Energy Exchange (IEX) recorded a total trading volume of 11,370 million units (MU) in September 2024, a 24% year-on-year increase. The electricity volume, including green electricity, rose by 21% year-on-year to 10,332 MU. Trading volume in renewable energy certificates (REC) doubled to 1,031 MU compared to the previous year. On September 25, 2024, the REC market saw an all-time low price of Rs 110 per certificate, offering obligated entities like discoms and captive…

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Global Renewable Energy Statistics

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Renewable Energy Capacity and Production (On-Grid and Off-Grid) In 2023, total global renewable energy capacity reached 3,864,522 MW, up from 1,698,295 MW in 2014, a more than twofold increase. Africa has also experienced growth, with a capacity of 62,066 MW in 2023, up from 32,511 MW in 2014. Countries like Angola, Ethiopia, and South Africa have led this surge, each achieving notable renewable capacity expansions. Angola, for example, expanded from 1,020 MW in 2014 to…

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India’s Power Generation Schemes: A Factual Snapshot

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India has implemented several schemes to increase power generation capacity and improve energy access. Below is an overview of the key power generation schemes, including the latest facts and figures: Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY) Launched: 2014 Objective: Strengthen rural power infrastructure and provide continuous power supply to rural areas. Achievements: As of 2024, over 100,000 villages have been electrified, and feeder separation has been completed in 19 states. Integrated Power Development Scheme…

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OECD net electricity production rises 5.4% in June 2024

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According to the latest release from the International Energy Agency (IEA), total net electricity production in the Organisation for Economic Co-operation and Development (OECD) countries reached 902.8 TWh in June 2024, reflecting a 5.4% year-on-year (y-o-y) increase. On a year-to-date basis, electricity production in the first two quarters of 2024 rose by 2.9%. The OECD consists of 38 member countries, including major economies such as the United States, Japan, Germany, and Australia, working to promote…

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Power sector installed capacity overview for August 2024

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As of August 2024, India’s total installed capacity reached 4,50,759.56 MW, covering coal, lignite, gas, hydro, nuclear, and renewable energy sources. The total installed capacity from renewable energy sources was 1,52,654.48 MW. In the State Sector, the installed capacity totalled 1,08,276.94 MW. Of this, 69,977.50 MW was from coal, while 27,254.45 MW came from hydro. Renewable energy contributed 2,602.62 MW to the state sector’s total capacity. In the Private Sector, the total installed capacity stood…

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Power supply and allocation overview for August 2024

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The peak power demand in India for August 2024 reached 2,49,856 MW, with 2,49,854 MW being met, a marginal shortfall of 2 MW. Many states were able to meet their peak power demand in full. Delhi had a peak demand of 8,656 MW, which was fully met, and Maharashtra similarly met its demand of 28,924 MW. In certain regions, small deficits were observed. For example, UT of J&K and Ladakh had a peak demand of…

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Transformation and transmission capacity overview for August 2024

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As of August 2024, the total transformation capacity in India reached 12,69,350 MVA. During the financial year 2024-25, up until August, a total of 18,270 MVA had been added to the country’s substations, with 3,650 MVA being added in August alone.  The Central Sector contributed 6,330 MVA out of the planned 51,645 MVA during the first five months of FY 2024-25. Power Grid Corporation India Limited (PGCIL) added 6,015 MVA during this period. The progress…