India's electricity consumption during the fiscal year ending in March 2023 grew at its slowest pace in six years, with an increase of nearly 1%. This decline is attributed to a mild summer that reduced air conditioning use and significant rainfall that lowered irrigation demands. According to the Central Electricity Authority, this is the worst performance since the pandemic-induced decline in 2021. Notably, the peak power demand also experienced its first annual decline in at least two decades. Cooler weather has provided relief to outdoor workers and farmers but has led to reduced operations at power plants, resulting in increased coal stockpiles. While traditional demand drivers have been impacted, new avenues for electricity consumption, such as electric heaters in winter, are emerging. The power ministry's data reflects only state retailer supplies, which make up about 80% of last-mile connections. With growing installations of rooftop and off-grid solar systems, which have a combined capacity of about 31 gigawatts, the market dynamics are changing. Expectations for a hotter summer this year suggest a potential rise in electricity demand.