All-India electricity demand may grow 7% to 1,480 BU in FY23: Icra

The all-India electricity demand is expected to grow 7 per cent to 1,480 billion units (BU) in the ongoing financial year, according to Icra.

In the preceding 2021-22 fiscal, the all-India power demand was at 1,380 BU, the ratings agency said on Monday.

"All-India electricity demand to remain healthy at over 7 per cent in FY23 despite growth slowdown post Q1 of this fiscal, and grow at 5-5.5 per cent in FY24," Icra said in a report.

The estimates are based on the fact that all-India electricity demand increased 10.6 per cent year-on-year in first eight months of FY2023, amid a severe heat wave in north and central India, it said.