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Iranian industries thriving thanks to stable energy supplies

Authorities in Iran say supply of energy to industries across the country rose significantly this year.

Industries in Iran have reported higher output this year thanks to increased supplies of energy delivered to them, according to figures provided by Iranian ministries of oil and energy.

A Wednesday report by Fars news agency showed that supply of electricity to Iranian industries had increased by 12.5% year on year in the 55 days to the end of July which is considered the peak time of power use in Iran.

The report said electricity supply delivered to Iranian industries from June 6 to July 31 had increased by 23% this year compared to the same period in 2021.

“The growth in supply of electricity has allowed the country to experience a jump in manufacturing output,” said Rasul Javid, a university professor, in an interview with Fars.

Figures by the World Steel Association shows Iran increased its production of steel in June and July by more than 17% year on year and moved up three places to seventh in the global ranking of top steel producing nations.

That comes as Iran has faced rising demand for electricity in its household and business sectors this year with peak consumption reaching over 70 gigawatts in June-July, an increase of over 10% year on year.

A senior official in the National Iranian Gas Company (NIGC) said the supply of natural gas to Iranian power plants had more than tripled in the four months to July.

NIGC’s head of dispatching operations Mohammad Reza Joulayi said the company had supplied 1 billion cubic meters more gas to power plants in Iran over the period.

He said liquid fuels inventories in Iranian power plants, which mainly consist of gas oil, had also increased by 40% in March-July to reach 3 billion liters.

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