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4 files (PDF report, 3 Excel files)
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51 (Report only)
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Table of Contents
  • GENERAL OVERVIEW
  • INSTITUTIONS AND ENERGY POLICY
  • ENERGY SUPPLY
  • ENERGY PRICES
  • ENERGY CONSUMPTION
  • ISSUES AND PROSPECTS
  • DATA TABLES
  • ABBREVIATIONS
  • GLOSSARY

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Overview

This analysis includes a comprehensive India energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.

Highlights

  • The country has an ambitious target of 500 GW of non-fossil fuel capacity in 2030.
  • It pledges to reach carbon-neutrality by 2070.
  • Fossil fuel production is dominated by state-owned companies: CIL for coal and ONGC for gas and oil.
  • Private companies own half of the power capacity.
  • Coal production reached its highest level in 2022, supplying almost 3/4 of the power production.
  • More than 50 GW of solar has been installed since 2016.
  • Diesel and gasoline prices rose by 20% since 2020.
  • Gas prices more than tripled in 2022.
  • Electricity prices are declining since 2019.
  • Energy consumption keeps increasing rapidly (7%/year since 2020).
  • Coal consumption is still growing sharply, following electricity production needs.
  • Power production is expected to grow by around 5%/year by 2031, with the share of coal decreasing to 50% and renewables filling most of the gap (44%).
  • The country plans to double its refining capacity by 2025.
2nd
largest coal and lignite producer
25%
of CO2-free in power mix (2022)
87%
oil import dependence (2022)
  • Institutions & Energy Policy

    The management of the energy sector is split between several ministries: the Ministry of Power (MoP) for electricity and the coordination of energy conservation programmes; the Ministry of Petroleum and Natural Gas (MoPNG); the Ministry of Coal; and, finally, the Ministry of New and Renewable Energy (MNRE).

  • Energy Supply

    Oil:

    Oil production has been declining since 2010, reaching 33 Mt in 2022 (-11% since 2019).

    India is the world's third largest importer of crude oil, reaching its highest level in 2022 at 232 Mt (+9.6%). In 2022, crude oil imports represented 88% of the country's oil needs. The country is a net oil product exporter (17 Mt in 2022), although its net exports have fallen by 42% since 2018.

  • Energy Prices

    Electricity:

    Electricity prices have been declining since 2019 by 10%/year to US$10c/kWh for industry and by 4%/year to US$6c/kWh for households.

    Prices for the agricultural sector are highly subsidized, leading to exceptionally high consumption for this sector. Household electricity prices are also cross subsidised by industry.

  • Energy Consumption

    Total energy consumption per capita remains around 0.7 toe (2022), half the Asian average. Electricity consumption per capita reached 930 kWh in 2022, about a third of the Asian average.

    Total energy consumption continued to grow very rapidly (8% in 2021 and 6.5% in 2022) and exceeded 1 Gtoe in 2022 for the first time. It had increased rapidly over 2010-2022 (3.5%/year).

  • Issues & Prospects

    The energy sector is faced with several challenges: the level of oil production is low, while the consumption is rising sharply, leading to more imports. In both oil and gas sectors, sizeable investments are needed to increase energy production and improve infrastructure, especially for supporting larger imports.

  • GRAPH 1: CO2-energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2022, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2022, %)
  • GRAPH 5: Gasoline & diesel prices (US$/l)
  • GRAPH 6: Electricity prices for industry and households (US$c/kWh)
  • GRAPH 7: Gas prices for industry (US$c/kWh GCV)
  • GRAPH 8: Consumption trends by energy source (Mtoe)
  • GRAPH 9: Total consumption market share by energy (2022, %)
  • GRAPH 10: Final consumption market share by sector (2022, %)
  • GRAPH 11: Oil consumption (Mt)
  • GRAPH 12: Oil consumption breakdown by sector (2022, %)
  • GRAPH 13: Electricity consumption (TWh)
  • GRAPH 14: Electricity consumption breakdown by sector (2022,%)
  • GRAPH 15: Natural gas consumption (bcm)
  • GRAPH 16: Gas consumption breakdown by sector (2022, %)
  • GRAPH 17: Coal consumption (Mt)
  • GRAPH 18: Coal consumption breakdown by sector (2022, %)
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator, gas plant projects by status and operator and LNG contracts.

The India energy market data since 1990 and up to is included in the Excel file accompanying the India country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • India Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the India energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The India country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

  • Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
  • Power: Electricity generation & capacities, by technology.
  • CO2: Total CO2 emissions.
  • Macro-economy: Main macro-economic assumptions.
  • Key indicators: Energy intensity, share of renewables, CO2 emissions per capita and per unit of GDP.