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Maharashtra’s power demand dropped by 13% in first 8 months of 2020: Report

Maharashtra’s electricity consumption — a key barometer of economic activity — dropped by 13 per cent year-on-year in the first eight months of 2020, a government report stated. According to the report, the state’s total power use was 32301.53 mega units in the January-August period, down by 13 per cent over the consumption during the corresponding period last year. The report, which was part of an exercise by the finance department to analyse the state’s macroeconomic outlook in the wake of the Covid-19 pandemic, was presented to Chief Minister Uddhav Thackeray and senior cabinet ministers earlier this week. Worryingly, for policymakers, it shows that electricity use by commercial and business establishments has not witnessed a notable pick up even after lockdown restrictions were eased. Officials said this was an indication that the recovery on the consumption side of the economy remained weak.

Despite relaxations, the report stated that the power consumption by commercial units in the January-August period had shrunk by nearly 32 per cent as compared with the consumption number for the same period last year. Between January and August, commercial units in the state had collectively consumed 842.76 mega units of electricity, as against 1,233.82 mega units during the same period last year.

News source ~ Indian Express