China's industrial power demand in 2020 may decline by as much as 73 billio...
BEIJING - China’s industrial power demand in 2020 may decline by as much as 73 billion kilowatt hours , according to IHS Markit, as the outbreak of the coronavirus has curtailed factory output and prevented some workers from returning to their jobs.
The reduction is the energy equivalent of about 30 million tonnes of thermal coal or about 9 million tonnes of liquefied natural gas , IHS said. The coal figure is more than China’s average monthly imports last year while the LNG figure is a little more than one month of imports, based on customs data.
Xizhou Zhou, the global head of power and Renewables at IHS Markit, said that in a severe case where the epidemic goes on past March, China’s economic growth will be only 4.2% during 2020, down from an initial forecast of 5.8%, while power consumption will climb by only 3.1%, down from 4.1% initially.
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