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COVID19 – Flash Series - An impact assessment on commercial, industrial & domestic consumers
The unprecedented circumstances have already seen a decline of 25% and 21% from southern & western regions respectively, where in the commercial and industrial demand absence is prevalent!
Entire world has never seen anything prior to deal with a very stiff challenge prompted by the outbreak and then the gradual massive spread of COVID19. Naturally, it did not only put severe restraints on economy and has tested the best of health infrastructure set ups but also the backbone of necessary services also. One such segment which needs no fresh introduction is the electric power segment. We typically do not realize the importance of the sector till a force majeure crisis like the novel corona virus strikes. The first impression of the pandemic is a plunge in electric power demand in the country seen across all the regions. Worst decline are observed in southern and western regions with National demand tanking by 19% . The demand has seen a reduction of ~ 680 GWh from March 18 to April 18, 2020 itself wherein the peak summers are yet to be witnessed in the country. This necessitates demand of an in-depth research to unravel the future demand-supply scenarios for electric power. It is sure with a severely impacted value chain the sector must cope with many cascading challenges in near future, if the country needs to be able to strike sustainability for the sector.
Moving forward the power generation mix shall be impacted as per the demand variance governed by the lowered commercial and industrial consumers mainly coupled with spike in demand from domestic consumers as well.
The Business Case for Market Research on Electric Power Demand in India – With the above development chances for MNC’s China de-risk plan shall be a great shot in arm for economy in India. This shall augur well for a narrow – V shaped recovery pushing GDP growth rate above 6% in a year’s time from now. Arguably, if that happens India shall see a spike in it’s power demand by 6-7% as well and that shall require equal growth in supply credentials as well. This clearly mean that what shall be capacity augmentation at each state and how will the demand shape from commercial and industrial segments. But the quest which remains is how do we get an index based in-depth analysis which factors both the horizons of electric power demand and supply w.r.t to each region and funneled to state wise matrix and has comprehensive coverage on the supply-chain issues, capacity additions by solar and wind & the market development through power exchanges supplemented by open access markets as well. Thus, the answer lies in the market research report covered under COVID 19 Flash Series which shall be contrived by eninrac consulting and shall have 17 dedicated chapters/sections to address each query for the industry.
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