India Energy Demand

Changing power usage patterns, rising use of intermittent solar and wind energy and increasingly frequent extreme weather events have complicated demand forecasting, requiring systemic reforms

Energy trading platform IEX on Thursday said it has logged the highest-ever trade volume of 110 billion units (BU) in the fiscal year 2023-24, registering a growth of nearly 14 per cent year-on-year. The total trade volume has crossed the 100 BU-mark for the first time in FY24, the exchange said. IEX (Indian Energy Exchange) achieved 110 BU total trade volume in FY24, registering an increase of 13.8 per cent on a Y-o-Y basis, according to a statement. Giving segment-wise break-up, it said that 75.39 lakh RECs (Renewable Energy Certificates), equivalent to 7,539 million units, were traded during FY24, registering an increase of 26 per cent year-on-year. The government undertook several measures which led to a better supply scenario in the country, as a result of which the sell side liquidity improved on the exchange, it said. During the year, the sell liquidity on the exchange increased by 16.9 per cent Y-o-Y, which led to a decline in the DAM (day ahead market) prices by 12 per ce

Ethanol policy has helped in reducing carbon emissions and fuel import bill, he says

Prime Minister Narendra Modi on Tuesday said that India will see an investment of USD 67 billion in the energy sector in next 5 to 6 years as he invited global investors to participate in India's growth story. Inaugurating the second edition of the India Energy Week here, Modi said the Indian economy is growing at the rate of more than 7.5 per cent and the country will soon become the world's third-largest economy. He invited global players to participate in India's energy sector growth, saying that the country is expected to increase its refining capacity from 254 MMTPA (million metric tonne per annum) to 450 MMTPA by 2030. He said, "In next 5-6 years, the investment of USD 67 billion is going to be done in energy sector in India." The prime minister further said that India is investing unprecedented money in the energy sector that has never happened before. He also said that the country's primary energy demand will be doubled by 2045. India, Modi said, is the third-largest cons

Prime Minister Narendra Modi will inaugurate India Energy Week 2024 in Goa on Tuesday and also dedicate to the nation the permanent campus of the National Institute of Technology apart from laying foundation stones for various projects costing more than Rs 1,330 crore. Modi will also address Viksit Bharat, Viksit Goa 2047 programme. The PM will inaugurate the ONGC Sea Survival Centre at Betul village in South Goa at 10:30 am and inaugurate India Energy Week. He will participate in the Viksit Bharat, Viksit Goa 2047 programme at Fatorda in the afternoon, as per a release issued by the Prime Minister's Office. The Energy Week will be India's largest and only all-encompassing energy exhibition and conference expected to be attended by around 17 energy ministers from different countries. "Achieving 'aatmanirbharta' (self-reliance) in energy requirements has been a key focus area of the prime minister. In yet another step in this direction, India Energy Week 2024 will be held from Febru

Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Saturday said that 100 new biogas plants will soon be established in Uttar Pradesh. Speaking to reporters in Lucknow before going to the inauguration of the Compressed Bio Gas Plant in Budaun, Puri said that in the last seven years, under the leadership of Chief Minister Yogi Adityanath, the state has shed the label 'BIMARU' (sick) state and has done excellent work in every sector. "Today a new compressed biogas plant is going to be inaugurated in Budaun and the foundation stone of new compressed biogas plants will also be laid in eight other districts of the state," he said. Puri said that the process of land selection for setting up 37 plants is complete. According to a statement by the UP government, Puri said that the Budaun plant, developed on 50 acres with an investment of about Rs 135 crore, will produce about 14 tonne of compressed biogas every day, and will be instrumental in stubble management. Earlier, ...

The government on Monday said that coal production from captive and commercial blocks is likely to be 186.63 Million Tonnes (MT) in the next fiscal. The production will be further enhanced to 225.69 MT in FY26, the coal ministry said in a statement. "As per the present plans of the ministry, production targets from such mines will be touching 383.56 million tonnes by FY 2029-30," the coal ministry said in a statement. In the 2024-25 fiscal, coal production from such mines is expected to rise to 186.63 MT, the government said. In December 2023, the total coal production from captive and commercial coal mines rose 38 per cent to 14.04 MT from 10.14 MT in the year-ago period, it said. As per the latest figures, 50 captive and commercial coal mines are in operation. The total coal production from captive and commercial coal mines in the April 1-December 31, 2023 period was 98 MT, as per the statement. In 2020, Prime Minister Narendra Modi had launched the auction process for 41 coal

A set of business actions aimed at reducing the intensity of energy demand can unlock annual savings of at least USD 2 trillion a year for the global economy if measures are taken by the end of this decade, a new WEF study showed on Monday. These targeted practical actions can also boost growth and cut greenhouse gas emissions. Releasing the report ahead of its Annual Meeting in Davos from January 15-19, the World Economic Forum (WEF) said the right policy frameworks would unlock growth and productivity, save companies cash, deliver competitive advantage and reduce emissions. The report was launched in collaboration with PwC and is supported by over 120 global CEOs who are members of the WEF's International Business Council (IBC), a group representing 3 per cent of global energy use. In one of the most widely supported initiatives at United Nations climate change conference COP28, governments pledged to triple the world's renewable energy capacity by 2030 and double the rate of ene

The data indicates that the combined index of eight core industries showed an increase of 7.8 per cent (provisional) in November 2023, the government said

Shippers turned cautious about entering the Red Sea in recent weeks due to multiple attacks by Yemen's Iran-backed Houthi rebels

The peak electricity demand in India is expected to touch 3,50,670 MW mark by 2030-31, and the government is taking various measures to meet the increased demand, Union Minister R K Singh has said. The peak demand has gone up from 1,35,918 MW in 2013-14 to 2,43,271 MW in September 2023. This is a rise of almost 79 per cent and the demand has been met, the minister for power said on Thursday. A series of concerted measures have led to 70 per cent increase in generation capacity from 2,48,554 MW in March 2014 to 4 25,536 MW in October 2023, he said in Lok Sabha. "As per 20th Electric Power Survey (EPS) report published in November 2022, the peak electricity demand in the country in 2030-31 is expected to be 3,50,670 MW. We have taken steps to meet the increased demand for power in the country," Singh said. The minister said 27,180 MW of thermal capacity is under construction, 12,000 MW has been bid out and 19,000 MW is under clearances. The total anticipated thermal capacity additio

Coal and Mines Minister Pralhad Joshi on Wednesday expressed confidence that the country's coal production will cross one billion tonnes in the ongoing financial year. The country's production target of the fossil fuel for 2023-24 is 1,012.14 MT. Speaking during the launch of the ninth round of commercial coal mine auction, the minister said, "This year we are going to cross one billion tonnes production." The estimated demand of coal in the current fiscal is 1,196.60 million tonne (MT). The demand of electricity by 2030 is going to double and to cater to the need the country needs coal, the minister said. With the completion of the ninth round of auction, the sale of 100 coal blocks would be completed. A total of 31 coal mines are being offered in the ninth round of commercial coal mine auctions. The mines being auctioned are spread across coal, lignite-bearing states of Jharkhand, Chhattisgarh, Madhya Pradesh, and Telangana.

The Centre will launch the ninth round of commercial coal mines auction on Wednesday, offering as many as 26 blocks to bidders. In pursuit of ensuring energy security and driving economic development, the Ministry of Coal is set to embark on another significant stride with the launch of the 9th round of Commercial Coal Mine Auctions here on 20th December 2023, the Coal Ministry said in a statement. "Of the 26 coal mines to be auctioned, seven are fully explored, while 19 are partially explored blocks," the ministry said. These mines are in the states of Chhattisgarh, Jharkhand, Madhya Pradesh and Telangana. Coal and Mines Minister Pralhad Joshi will be the chief guest and Minister of State for Railways, Coal and Mines Raosaheb Patil Danve will be the guest of honour on the occasion. Unlike previous commercial coal mine auctions, there are no restrictions on the sale or utilisation of coal. "Notably, eligibility criteria have been eliminated, removing any technical or financial ..

President Droupadi Murmu on Thursday said the dependence on fossil fuels is definitely decreasing, but fossil fuel-based energy is also essential for India. India has always worked as a responsible country in the field of clean energy, Murmu said, addressing the National Energy Conservation Awards 2023 function here. "But we have also been making it clear from time to time that the dependence on fossil fuel is definitely decreasing but fossil fuel-based energy is also essential in our country," she stated. India is promoting clean coal technologies so that the processes of coal extraction and use become more efficient and environment friendly, she noted. It is the result of our commitment towards the environment that India has moved from 30th to 7th place in the ranking of the Climate Change Performance Index in a period of ten years, she said. The President opined that the health and happiness of all of us lie in the conservation and good health of nature. "If we make optimal ..

Average power purchase cost increased by 71 paise per unit during FY22-23 due to a rise in various overheads like transmission and distribution rates, Parliament was informed on Thursday. On the rise in power cost due to increased use of imported coal, Union Power Minister RK Singh, in a written reply to the Lok Sabha, said, "Average power purchase cost increased by 71 paise only between FY22 and FY23. This is because of increase in various costs including an increase in transmission and distribution costs". The minister explained that with the rise in electricity demand from July 2021 onwards, the consumption of coal in thermal power plants increased. The supply of domestic coal on a daily basis was less than consumption, which resulted in the depletion of coal stock and stocks at plants came down from 28.7 million tonnes (MT) as of June 30, 2021, to about 8.1 million tonnes (MT) as of September 30, 2021, he added. Therefore, in December 2021, the Ministry of Power advised state

The projects underscore how even as India sets ambitious long-term decarbonization targets, in the near term it will continue to rely on the dirtiest fossil fuel to meet rapidly growing power demand

Solar capacity installations in India increased by 27 per cent to 13 gigawatts (GW) during the calendar year 2022, according to a Mercom India report. "Solar capacity made up 82 per cent of the total 16 GW new power generation capacities added in 2022," the report titled 'Mercom India Solar Market Update' said. India added 13 gigawatts (GW) of solar capacity in the calendar year (CY) 2022, a 27 per cent increase year-on-year (y-o-y) compared to 10.2 GW installed in CY 2021, it added. The country's cumulative installed solar capacity now stands at 63 GW, the report said. During 2022, large-scale solar projects accounted for 87 per cent of the installations. However, in October-December 2022, India added 2.6 GW of solar, down 5 per cent from 2.8 GW a year ago, it said. India's large-scale solar project pipeline stood at 58 GW, with another 51 GW of projects tendered and pending auction at the end of 2022. "Though impressive, record solar capacity additions in 2022 were barely half

Minister of Coal and Parliamentary Affairs Prahlad Joshi on Tuesday urged coal companies to identify and remove production bottlenecks in order to further increase dry fuel production

Launches E20 fuel (petrol blended with 20% ethanol) two years before target

The investment buzz for the transition has begun but policy frameworks still lag the process