India Ramps Up Gas-Based Power Amid Record-Breaking Demand
India's power demand has surged in September, pushing peak power demand to 269 GW on September 10, the highest ever recorded for the month. According to data from the National Power Portal, electricity generation from gas-based power plants rose by 80.32% during September 1-9 compared to the same period last year.
This increase is largely due to a shortage in supply during evening peak hours, as solar output falls and hydropower generation has declined amid a rainfall deficit. The government relies on at least 4.5-5.5 gigawatts of gas-based power to meet the evening shortfall.
Natural gas purchases by the power sector jumped to 30,53,300 metric million British thermal units between September 1 and September 10, with an average spot gas price of Rs 2,420/MMBtu, a 139% increase from last year's average spot gas price of Rs 1,013/MMBtu.