Power demand weakened

Electricity use has always been seen as a barometer of economic development. Indications show that, under the backdrop of economic slowdown, the intensity of electricity demand has weakened. The results of the agency's calculation of power generation just after the end of August showed that the average daily power generation in late August was similar to that in mid-August. The year-on-year decline was somewhat narrower, but it was still in negative growth.

The year-on-year growth rate of electricity consumption was significantly lower than expected. The results of the above calculations show that since late July, the nation’s electricity generation has reached 189.2 billion, 168.3 billion, 155.9 billion and 171.8 billion kwh respectively. According to the average daily power generation, they have been 17.2 billion, 16.8 billion, 15.6 billion and 15.6 billion kilowatt hours respectively since late July, and the daily average generating capacity has increased by 4.9%, -0.1%, -8.1%, -2.1% respectively. .

According to official data, in July, China’s power generation amounted to 504.8 billion kWh, a year-on-year increase of 3.3%, and the previous value was an increase of 5.7%. From January to July, the power generation amounted to 3,124.9 billion kWh, a year-on-year increase of 5.5%, and the previous value was an increase of 5.8%.

Data from power generation companies show that the generation of power generated by some of the power companies' subsidiaries was a record high in August. Among them, Guodian Power Dalian Zhuanghe Power Generation Co., Ltd. generated electricity in August amounted to 725.667 million kwh, an increase of 28.4% over the same period of last year; CPI-invested Yanshan Lake Power Generation Company completed power generation of 71.761 million kwh in August, creating a single month's electricity generation of the company. The highest record.

From the whole year, industry insiders expect that although the growth rate of electricity consumption in 2014 may be close, it will be difficult to stand at 6.0%, which is significantly lower than the general expectation at the beginning of the year. Although this does not mean that China's economic growth rate will also be lower than expected, the weakening of electricity demand indicates that the downward pressure on the economy still exists.

In July, the electricity consumption of the whole society increased by 3.0% year-on-year, setting the lowest value of this year's growth rate. In addition to the seasonal contingencies, industry sources believe that the weak industrial economy growth is also an important reason for the slowdown in electricity consumption growth. China's industrial electricity consumption accounts for 70% of total electricity consumption in the society, but domestic industrial electricity consumption in July increased only 2.9% year-on-year, and it maintained a growth rate of 5.1% in June.

The sharp drop in the year-on-year growth in electricity consumption in July also sparked discussions on whether China's economic recovery still has more tests. At that time, there were opinions that macroeconomic policies in the second half of the year may turn to "stimulus" for the economy or to "strong stimulus."