New Delhi, Jul 22 (IANS): India’s power transmission system is emerging as one of the largest unified electricity grids in the world with the inter-regional capability of transferring 1,18,740 megawatts (MW) on one frequency, according to the Economic Survey 2023-24 tabled in the Parliament on Monday.

Until March 31, 2024, transmission systems expanded to 4,85,544 circuit km of transmission lines and 12,51,080 mega volt amp (MVA) of transformation capacity, the Survey noted.

The government has accelerated its efforts to enhance the sector and meet the continuously rising demand for electricity in the country. The peak electricity demand increased by 13 per cent to 243 GW in FY24.

Between FY23 and FY24, the maximum rise in electricity generation was recorded in renewable energy resources for utilities, the Survey added.

As per the Survey, a total of 2.86 crore households have been electrified since the launch of the Saubhagya scheme in October 2017.

It also said that the implementation of Electricity (late payment surcharge and related matters) Rules, 2022, has given relief to the DISCOMs, as well as electricity consumers and generating companies.