Power Sector Update : 10 POWER points; A weekly roundup on power & utilities #15/FY26 by JM Financial Services Ltd
We have curated a list of 10 significant developments that occurred during the week 30 Jun6 Jul’25, both within India and internationally, which may have implications for Indian utilities, including the renewable sector, in future.
* Avg daily energy/ max peak demand during week was 4,907 MU (5% YoY, -1% YTDFY26)/ 219 GW (4% YoY, -3% YTDFY26).
* Coal production from captive and commercial mines in June reached 15.57 MT (16% YoY), while coal dispatches were recorded at 17.31 MT (13% YoY).
* Solar module manufacturing capacity under ALMM increased to 91,458 MW from 107 manufacturers.
* Bombay High Court granted an interim stay on a Maharashtra Electricity Regulatory Commission (MERC) order related to solar tariff regulations for Commercial and Industrial (C&I) consumers.
* Tamil Nadu Electricity Regulatory Commission increased the electricity tariff for C&I consumers by 3.16% from 1 Jul’25.
* Solar energy entrepreneurs of Kerala observed solar bandh (solar shutdown) to protest state’s new draft solar energy policy having restrictive proposals like limiting net metering to below 3 kW, 30% storage for 5 kW+, additional INR 1 per unit as grid support charge, and ending the carry-forward of excess electricity.
* US House of Representatives passed One Big Beautiful Bill which reduces long-standing federal support for solar and wind power, while creating a friendly environment for oil, gas and coal production.
* As global power demand is projected to surge 55% by 2034, with variable RE comprising over 80% of new capacity additions, investments of USD 1.2 trillion in BESS will be required to support the installation of over 5,900 GW of new wind and solar capacity globally through 2034, according to Wood Mackenzie.
* Global fund managers are driving twice as much capital investment into fossil fuels as they are into low-carbon energy supply, according to new BNEF analysis of nearly 70,000 funds. BNEF also introduces the Energy Supply Fund-Enabled Capex Ratio (ESFR), a new framework to help investors assess how aligned their portfolios are with climate goals.
* “China is huge…Huge means huge. No one in the world can compete with that.”- Praveer Sinha, CEO & MD, Tata Power.
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