Chinese power consumption increased to an all time high at 607.2TWh in July, up 15.8% m-o-m and up 9.9% y-o-y. Summer heat waves in China prompted higher usage of air conditioners during the month. This takes the power usage to 3,558TWh over the first 7 months of the year, up 6.9% y-o-y.
Chinese industrial performance remained strong in July. Indeed, this is line with the increase in industrial power usage to the record level at 436.3TWh, up 14.1% m-o-m and up 9.7% y-o-y. This takes the industrial power consumption to 2,532TWh, up 6.7% y-o-y.
Source: National Energy Administration