China H1 power consumption rises 5.5%
China's power consumption growth slumped significantly in the first half of the year amid an economic slowdown, the China Electricity Council said Tuesday.
In the first six months, total power consumption grew just 5.5 percent from a year earlier, dragged down by a sharp decline in power use by industrial and high energy-consuming industries, the CEC said in a report.
But the third-tier industry and residential power consumption expanded fast during the period, the CEC noted.
However, a greater chance of economic growth picking up over the second half means power demand is likely to rebound in subsequent months, the CEC said.
The CEC projected total power consumption to grow between 6 and 8 percent year-on-year to hit between 2.6 trillion and 2.65 trillion kilowatt-hours in the second half.
Meanwhile, the full year power consumption is expected to fall between 4.98 trillion and 5.03 trillion kilowatt-hours, an increase of 6 to 7 percent year-on-year, it said.
The CEC said the country will see a general surplus in power supply during the summer peak season for electricity, and power shortages will be less stressful in energy-strapped regions.
But the third-tier industry and residential power consumption expanded fast during the period, the CEC noted.
However, a greater chance of economic growth picking up over the second half means power demand is likely to rebound in subsequent months, the CEC said.
The CEC projected total power consumption to grow between 6 and 8 percent year-on-year to hit between 2.6 trillion and 2.65 trillion kilowatt-hours in the second half.
Meanwhile, the full year power consumption is expected to fall between 4.98 trillion and 5.03 trillion kilowatt-hours, an increase of 6 to 7 percent year-on-year, it said.
The CEC said the country will see a general surplus in power supply during the summer peak season for electricity, and power shortages will be less stressful in energy-strapped regions.
