In the fiscal year 2022-23, Jammu and Kashmir consumed less energy than it produced, with an overall generation of 29931 million units and consumption of 20,206 million units. The major energy players are the National Hydroelectric Power Corporation (NHPC) and Jammu and Kashmir State Power Development Corporation (JKSPDC). NHPC, operating eight major power stations, contributed 49% of its total national generation in 2022-23. JKSPDC, with 13 hydroelectric projects, including the 900-MW Baglihar, generated 5191.65 million units. The report details energy ownership arrangements, entitlements, and allocation percentages in various projects. Jammu and Kashmir faces significant deficits, leading to purchases from the open market, causing financial strain. The power sector, suffering losses, grapples with high Aggregate Technical and Commercial losses of over 50%. Initiatives to curb losses include improved infrastructure, smart meters, and efforts to counter unauthorized power consumption. The success of these measures in alleviating the power crisis remains uncertain.