China’s power consumption to grow 7.1 per cent in Q3, 6.8 per cent in Q4: State Grid expert
The world’s second-biggest economy had seen year-on-year growth in total power consumption for the first time this year in May following the relaxation of anti-coronavirus measures and the resumption of business
BEIJING: China’s electricity consumption is expected to grow 7.1 per cent and 6.8 per cent year-on-year, respectively, in the third and fourth quarter of 2020, as the coronavirus outbreak eases and Beijing’s economic stimulus policies take effect, according to an expert from the State Grid.
The world’s second-biggest economy had seen year-on-year growth in total power consumption for the first time this year in May following the relaxation of anti-coronavirus measures and the resumption of business.
For the first five months of this year, however, power consumption in China fell 2.8 per cent from the same period in 2019.
“The negative impact of the pandemic mainly shows in the first half of 2020. With the impact diminishing in the second half of this year and policy effects emerging, the growth of power consumption will rebound significantly comparing to the first six months,” said Shan Baoguo, deputy general economist at China Energy Research Institute, a think tank of China’s State Grid Corp.
Electricity consumption growth in the upcoming six months will be mainly driven by demand in the secondary industry and residential users, with increase rates at 5.9 per cent and 10 per cent respectively.
Shan also expects China’s full-year power consumption to reach 7.44 trillion kilowatt-hours (kWh) in 2020, up 3 per cent from the level in 2019.