New Delhi, Jan 29: India’s electricity demand is expected to rise by 8-10 per cent during the financial year (FY) 2022, said HDFC Securities.
The brokerage house had earlier predicted a 12 per cent rise in power demand in FY22.
The downward revision of demand expectation is largely due to a prolonged winter and disruptions in demand caused by the rising Covid-19 cases in January 2022.
Notably, the overall demand has increased by 9.5 per cent on year-on-year (YoY) basis in the ‘YTDFY22’ period.
According to the report, the power demand grew by only 2.5 per cent on a year-on-year basis last month due to low temperatures at the onset of peak winter.