A line of cable trolleys transports coal from a mine to thermal power stations on a smoggy morning on November 23, 2021 in Sonbhadra, Uttar Pradesh, India. Dust spots visible in the sky are due to particulate pollution in the area. (Photo by Ritesh Shukla/Getty Images)
India’s thermal plant load factor (PLF) improved to 64 percent in FY 2023 from 58.9 percent in FY 2022, driven by a strong recovery in electricity demand growth in the country, rating agency ICRA said on March 6. The agency has now revised its outlook for the country’s thermal power sector to “stable†from “negativeâ€, even as the power distribution segment sustained a “negative†rating.
“The all-India thermal PLF level is expected to improve from 58.9 percent in FY2022 to 64.0 percent in FY2023 and further to 65.5 percent in FY2024, led by healthy demand growth and limited thermal capacity addition. The full-year demand growth for FY2023 is estimated at 9.5-10 percent; which is likely to moderate in FY2024, though remaining healthy at 5.5-6.0 percent,†said Vikram V, vice president and sector head – corporate ratings, ICRA.
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