Chennai: The electricity market at the Indian Energy Exchange traded 7322 MU volume and achieved 37 per cent YoY growth in July 2021, said a latest report.
According to the power demand data published by the National Load Dispatch Center, the national peak demand on 7 July at 200.6 GW was highest ever registering a 17.6 per cent YoY increase while the energy consumption at 125.5 BU grew 10.6 per cent on a YoY basis.
During the month, India’s manufacturing PMI rose to three-month high at 55.3. With easing of lockdown restrictions, economic activities as well as power consumption accelerated.
Amidst the severe operational and financial challenges faced by the utilities and industries due to the Covid-19 pandemic, the competitive power prices coupled with flexible procurement and a diverse spectrum of market segments have been enabling the participants to accrue significant financial savings, it said.