Power Sector Update - Demand Tide May Turn With Lockdown Easing: ICICI Securities
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ICICI Securities Report
Although power demand growth was robust in April 2021, the month of May 2021 has faced the brunt of demand decline although not as severe as in Q1 FY21.
Yet, on year-to-date basis (till May 23, 2021), all-India daily/peak demand was higher by an average of 28%/26% YoY (daily year-to-date demand is higher even versus FY20), while for May 2021-to-date it is up 12%/10% YoY.
Thermal plant load factors continued to be strong at 67% in April 2020 due to which, Coal India Ltd.’s offtake increased to 94.7 million tonne (versus 79 million tonne for two months-FY21 and 104.5 million tonne for two months-FY20).
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