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In a significant stride towards transforming the power sector, the Ministry of Power’s year-end review for 2023 revealed impressive advancements. Over the past nine years, the government has successfully shifted from a power-deficient to a power-sufficient nation, adding 1,94,394 MW of generation capacity, bringing the total installed capacity to 4,26,132 MW. Notably, 8,269 MW of this capacity is from non-fossil fuel sources, emphasizing a commitment to renewable energy.
In the pursuit of electrification, every village and household has been electrified, resulting in a substantial increase in power availability. Rural areas now enjoy 20.6 hours, up from 12 hours in 2015, while urban areas experience 23.8 hours of power supply. The peak demand in 2023-24 increased by 12.7%, reaching 2,43,271 MW, with an encouraging reduction in all India peak shortage to 1.4%.
Energy requirements surged by 8.6%, and energy availability rose by 8.9%, showcasing the successful management of the increasing demand. The total electricity generation, including renewable sources, during 2023-24 marked a 7.7% growth, contributing to a reduction in energy shortage at the national level to 0.3%.
A notable development unfolded in Arunachal Pradesh, with 29 stalled hydroelectric projects (32,415 MW) set to be revitalized. Memorandums of Agreement were signed with Hydro CPSEs, promising economic growth and employment opportunities while aligning with the Nationally Determined Contribution target of 500 GW non-fossil energy capacity by 2030.
The SAMARTH Mission demonstrated significant progress, with revised biomass policies, benchmarking, and increased biomass usage. Bankable project reports, loan schemes, and administrative approvals have streamlined the process, making biomass a key player in the energy landscape.
Transmission capacity witnessed a substantial boost in 2023, with the addition of 14,390 ckm of transmission lines, 61,591 MVA of transformation capacity, and 4,290 MW of inter-regional transfer capacity. The transmission plan for integrating over 500 GW of non-fossil fuel capacity by 2030 underscores India’s commitment to renewable energy.
The Revamped Distribution Sector Scheme (RDSS) showed promising results, with AT&C losses down to 15.41% in FY 22-23. Prepaid smart metering, a crucial element of RDSS, is set to install 250 million meters, enhancing operational efficiency and consumer experience.
The National Smart Grid Mission (NSGM) made strides in smart distribution cities, deploying over 1,69,330 smart meters and facilitating training programs for industry professionals. UJALA and SLNP initiatives, promoting energy-efficient appliances and LED street lights, respectively, showcased substantial energy savings and monetary benefits.
The Ministry of Power also unveiled amendments to the Electricity (Rights of Consumers) Rules, 2020, empowering consumers and introducing Time of Day (ToD) tariffs to incentivize renewable energy consumption. The Green Open Access Rules, 2022, further opened avenues for small consumers to purchase renewable energy.
The statutory mechanism for timely payment to generating companies, through the Electricity (Late Payment Surcharge and Related Matters) Rules, 2022, aims to create a financially viable power sector by providing a structured framework for payments.
The year-end review reflects India’s steadfast commitment to achieving sustainable and robust growth in the power sector, marking a pivotal year for the nation’s energy landscape. |
