Commodities and Futures News

India’s Demand For Coal At Record High

2024.06.19 09:51

India’s Demand For Coal At Record High

yolowire.com – A record-breaking heatwave has pushed India’s demand for Coal based power to an all-time high, said the country’s federal government in a written statement.

According to government statistics, India’s demand for coal has risen by 7.3% this fiscal year to reach record levels.

More than 75% of India’s power generation in 2023 came from coal, which remains the cheapest form of energy generation in the nation of 1.4 billion people.

Currently, produces only about 2% of India’s power, said the government.

Demand for power generation and the coal that fuels it is rising as India struggles with a heat wave that is producing extreme temperatures nationwide.

India’s Meteorological Department (IMD) has said that the country is enduring one of the longest heatwaves in its history. As a result, demand for power to run air conditioners has skyrocketed.

Coal production across India stood at 207.48 million tonnes as of June 16, up nearly 10% from the same period last year, the government said in its news release.

“The Ministry of Coal is fully committed to ramp up coal production and transportation, ensuring power plants have ample reserves to meet the surge in electricity demand,” said the government.

This content was originally published on Yolowire.com



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