- Central Electricity Authority to release official data later this month
- Shrinking power output showcases sluggish industry activity amid slowdown
- Economists see electricity demand as important factory output indicator
India's electricity supply fell for the fifth straight month in December, provisional government data showed, potentially reflecting sluggish industrial activity amid an overall economic slowdown.
Power supply fell to 101.92 billion units in December, down 1.1 per cent from 103.04 billion units last year, an analysis of daily load despatch data from state-run Power System Operation Corp Ltd (POSOCO) showed.
The Central Electricity Authority (CEA), an arm of the power ministry, is expected to release official data on power demand later this month. POSOCO releases provisional load despatch data every day.
Lower electricity supply could mean a fifth consecutive fall in power demand, as electricity deficit in the country is marginal.
Electricity supply fell 4.2 per cent in November and 12.8 per cent in October, according to the CEA. The October decline in electricity demand and supply was the fastest in at least 12 years.
Electricity demand is seen by economists as an important indicator of industrial output and a deceleration could point to a further slowdown.
Annual consumption of electricity by industry accounts for more than two-fifths of the country's annual electricity consumption, according to government data, with residences accounting for nearly a quarter and commercial establishments for another 8.5 per cent.
The country's overall economic growth slowed to 4.5 per cent in the July-September quarter, government data in November showed, the weakest pace since 2013 as consumer demand and private investment weakened.
Slower economic activity has resulted in a fall in sales of everything from cars to cookies, prompting some large scale industries such as the automobile sector to slash jobs.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
