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India's Power Demand Drops 5.2% as Unseasonal Weather Cools Cooling Needs
13 Nov
Summary
- Power demand in India slumped 5.2% in October 2025 due to unseasonal rainfall and lower temperatures
- Thermal power generation hit a 4-year low with plant load factor plunging to 57.5%
- Renewable energy now accounts for 30% of India's generation mix
According to a power sector update by Nuvama Research, India's power demand slumped 5.2% year-on-year in October 2025. This drop was driven by unseasonal rainfall and lower temperatures that reduced the need for cooling across the country.
Average temperatures in October 2025 dropped to 25.6°C, compared to 27.1°C the previous year. As a result, peak power requirement also slipped to 210 GW, down from 219 GW in October 2024. Thermal power generation was particularly affected, with the all-India plant load factor (PLF) plunging to a 4-year low of 57.5%. NTPC's PLF declined sharply from 78.1% to 68%.
Despite the subdued demand, thermal power continued to account for around 70% of India's generation mix. However, the report highlights a sharp divergence between solar and non-solar hours. Solar-hour supply surpassed demand by 422%, keeping prices low at ₹2.2 per kWh. Non-solar-hour supply also remained elevated, pushing prices down to ₹3.2 per kWh, compared to ₹4.7 per kWh the previous year.
India's installed power capacity reached 501 GW by the end of September 2025, with a robust 25 GW of renewable additions so far in FY26, mostly from solar. Renewables now account for roughly 30% of the generation mix, according to the Nuvama analysis.
