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ICRA revises energy demand growth outlook for FY22 upwards to 8.5%: ICRA

The all-India electricity demand during the period from April 2021 to September 2021 has increased by 12.7 per cent to 707 billion units (BU) on a year-on-year (YoY) basis supported by a lower base, improvement in economic activity and lower than normal monsoons leading to higher demand from the agriculture segment during July and August 2021, an ICRA statement said.

October 04, 2021 / 02:14 PM IST

Rating agency ICRA on Monday revised its energy demand growth outlook for 2021-22 upwards from 6 per cent to 8-8.5 per cent by ICRA.

As per ICRA, low base last fiscal and faster-than-expected recovery in demand after the second wave of COVID-19 seen in April and May 2021 have supported this outlook upgrade.

The all-India electricity demand during the period from April 2021 to September 2021 has increased by 12.7 per cent to 707 billion units (BU) on a year-on-year (YoY) basis supported by a lower base, improvement in economic activity and lower than normal monsoons leading to higher demand from the agriculture segment during July and August 2021, an ICRA statement said.

The energy demand in H1 FY2022 (April to September) also, remained higher by 2.9 per cent against the same in H1 FY2020 (pre-COVID), led by relatively sharper recovery in the energy demand as reflected from 8.4 per cent growth in Q2 FY2022 (July September) against Q2 FY2020.