In Short:
Gas-based power plants in India saw a rise in capacity utilization in April 2024, reaching a four-year high of 21.4%. Gas plants account for 2-3% of total power generation in the country. Demand for gas is increasing due to rising electricity consumption. The power deficit is at 0.1%. Softened LNG prices and increased demand from industrial and power sectors are driving up gas trade on exchanges. India’s gas demand is expected to grow, particularly for power generation.
Gas-Based Power Plants Operating at Four-Year High in April 2024
Hey there! I’ve got some exciting news about the **gas-based power plants** in India. So, the plant load factor (PLF), which basically measures how much a plant is being utilized, hit a four-year high of 21.4% in April 2024. This is super cool because the government wanted these plants to run at full capacity to meet the country’s growing electricity needs.
Key Highlights:
- Gas-based power plants have an installed capacity of 24.8 gigawatts (GW).
- They make up 2-3% of India’s total power generation.
- In April 2024, they produced a whopping 3.7 billion units of electricity.
Power Situation in India:
India’s electricity consumption went up by almost 10% in April 2024 compared to the previous year. The country saw a peak demand of 224 GW, and guess what? It was successfully met with just a tiny power deficit of 0.1% – how awesome is that?
The Push for Gas Power
The **Power Ministry** made sure that gas-based power plants ran at maximum capacity from April to June 2024. This move really paid off as these plants helped bridge the electricity demand gap during the peak season.
Steady Performance by Gas-Based Power Plants
While the PLF in April 2024 was slightly lower than that in 2020, gas-based power plants have been consistently delivering decent performance. The **gas consumption numbers** also look promising, with India being the fourth largest LNG importer in the world consuming 27.27 million standard cubic meters per day in April 2024.
Other Factors Contributing to the Surge:
- Softening LNG prices
- Increased gas demand from industrial and power sectors
The Future Looks Bright for Gas Power
According to India Ratings & Research, the future of gas-based power plants in India looks promising. With a projected increase in gas demand and stabilizing prices, these plants are expected to play a significant role in meeting the country’s power needs in the coming years.
Record Power Demand in May 2024
As summer heatwaves hit several parts of India, the peak power demand soared to a record 250 GW on May 30. This surpassed the government’s earlier projections and highlighted the importance of a diverse energy mix to meet the growing electricity demands.
