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Power utilities likely to see moderate growth in Q3FY25 earnings

Global coal prices are down due to oversupply and weak demand in China

Renewable energy re
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Devangshu Datta

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Power utilities may report moderate growth in earnings for 3QFY25. Generation is up 3 percent Y-o-Y in Q3 on lower cooling demand and high base, to 429 billion units (BU).
 
Peak demand was steady at 224GW in Q3FY25, a 10 per cent decline from the record highs of 250GW in May 2024. Coal-based generation held steady at 319BU, hydro generation surged by 27 per cent to 34BU. Gas-based generation fell by 20 per cent Y-o-Y to 5.4BU. Renewable generation rose 14 per cent Y-o-Y to 47BU. Year-to-date, generation has increased 5 per cent Y-o-Y to 1,387BU.
   
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