Gruha Jyothi, drought in state contribute to 11.35 pc increase in power consumption in 2023-24
Bengaluru: The overall power consumption on domestic basis across Karnataka has increased by 11.35 per cent between August 2023 and July 2024, with all electricity supply companies (escoms), except the Bengaluru Electricity Supply Company (BESCOM), recording a rise of 10 to 19.75 per cent this year.
The power use has increased by 3.76 per cent within BESCOM limits, which includes not only Bengaluru Urban and Rural districts but also other districts like Ramanagar, Tumakuru, Kolar, Chikkaballapur, Davanagere and Chitradurga in 2023-24, reports Deccan Herald.
The increase is being attributed to the extension in drought and high-temperature days in the state as well as to the implementation of the Gruha Jyothi scheme by the state government, as the number of beneficiaries has increased during said period by 7.13 per cent.
In contrast to the hike witnessed in the state this year, Karnataka had recorded a 4.64 per cent increase in power consumption in 2022-2023, as households had used 16,089 million units (MUs) in 2023-24, which was 1,263 MUs higher than the number of units consumed in 2022-23.
While the six escoms in Karnataka provides electricity to around 1.98 crore households in total, more than 1.69 crore users have enrolled for Gruha Jyothi. Of these, 1.6 crore users have availed of the benefits of the scheme.
The government had given a 10 per cent buffer on the average power consumption of 2022-23, for the households to receive zero-electricity bill, with Energy Department sources informing that the state government had predicted the power consumption in Karnataka to rise by 10 per cent at most, as compared to 2022-23.
The state government had, however, not allocated additional funds in the budget for the scheme, although it has been clearing escom dues regularly, a senior officer has said.
Another senior officer confirmed that drought and high temperatures have contributed to the increased household power consumption across the state. However with good rainfall this year, the power consumption could be expected to return to its average level, the officer added.
Low rainfall in the summer of 2023 had reduced the power supply in the state, forcing escoms to also reduce supply to irrigation pumpsets. Several areas in the state also used to report scheduled load shedding. There have been instances where the government has purchased power from private players and national grid at Rs 7.42 to Rs 10 per unit during peak season, said the officer.
The state currently depends on renewable energy sources, including hydro, wind and solar powers, to meet 63 per cent of its requirements.
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Rupee declines 27 paise to 90.95 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 27 paise to 90.95 against the US dollar in early trade on Friday, weighed down by a strong American currency and higher crude oil prices due to the escalated geopolitical tension.
A selling rush in domestic equities further pressured the Indian currency, forex traders said.
At the interbank foreign exchange, the rupee opened at 90.94 and slipped further to trade at 90.95 against the greenback in early deals, losing 27 paise from its previous closing level.
The rupee rose 4 paise to settle at 90.68 against the US dollar on Wednesday. The currency exchange markets were closed on Thursday on account of Chatrapati Shivaji Maharaj Jayanti.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per cent higher at 97.89.
Brent crude, the global oil benchmark, was trading 0.14 per cent higher at USD 71.77 per barrel in futures trade.
Analysts attributed the strengthening dollar and crude prices to heightened tension between the US and Iran, with both countries signalling they are prepared for war if talks on Tehran's nuclear programme fizzle out.
On the domestic equity market front, Sensex fell 150.35 points to 82,347.79 in early trade while the Nifty declined 35.15 points to 25,419.20.
On Thursday, foreign institutional investors offloaded equities worth Rs 880.49 crore, according to exchange data.
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