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GEI Data



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                                   Analysis
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                 I                 Analysis of the Situation
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               N                 of the U.S. Power Industry
                                                                   CO
                                        under the
                                                                          VID-19
                                        under the COVID-19
                -                                     Pandemi               c
                                                      Pandemic
               D
               E             The COVID-19 outbreak in the spring      COVID-19 pandemic have delivered an
                             of 2020 has had a significant impact on
                                                                      unprecedented shock to global GDP,
                             the overall U.S. economy. As one of the   which fell by 17% from mid-January to
               P             pillars of the U.S. economy, electric utility   mid-April due to travel restrictions and
                                                                      manufacturing restraints. U.S. GDP fell
                             companies have played an important role
                             in the nation's efforts to contain the spread   by 9.1% year-over-year in the second
                T            of COVID-19 and have helped maintain     quarter. According to the forecast by the
                             local job stabilization and community
                                                                      Organization for Economic Cooperation
                             stability, highlighting the social importance   and Development (OECD), global GDP will
               H             of utility companies.                    fall by 4.5% in 2020, and U.S. GDP will fall
                                                                      by 3.8%.
                               During the pandemic, U.S. electric
   24                        utility companies faced many challenges    During the summer, as the COVID-19
                             unique to the lockdown in response to    pandemic was eased, the states gradually
               A             the pandemic, including lower electricity   began to loosen their lockdown and
                             demand, increased unpaid bills, higher
                                                                      restrictions, and the economy slowly
                                                                      recovered. As of September, the spending
                             operating costs, supply chain volatility, and
               N             politicized rate adjustments. The electric   on U.S. durable goods rebounded relatively
                                                                      quickly, while the spending on the service
                             industry has taken a wide range of actions
                             in response, including establishing industry
                                                                      sector remained weak, with consumer-
               A             association coordination mechanisms,     driven bars, restaurants, and retail stores
                             maintaining continuity of service, avoiding
                                                                      being hit particularly hard.
                             suspension of service on delinquent
                                                                        The differential impact of the COVID-19
                L            accounts, and delaying rate increase     pandemic on the regions depends to
                                                                      a large extent on the response of state
                             filings, among other measures.
                                                                      governments to the pandemic. According
                               At  present,  the  outlook  for  the
               Y             development of the COVID-19 pandemic     to research by Kastle Systems, an office
                                                                      building security access provider, office
                             in the United States remains uncertain.
                             Electric utility companies will receive
                                                                      utilization in the U.S. is about 25.5%. Texas
               S             more attention as the main body to       has the highest utilization rate, with 39.9%
                                                                      in Dallas, 32.9% in Austin, and 32.5% in
                             promote investment in infrastructure and
                                                                      Houston. New York and San Jose has
                             renewable energy projects, and as one of
                 I           the important vehicles to drive economic   lower utilization rates of 15.2% and 16.8%,
                                                                      respectively.
                             development and create jobs in the future.
                                                                        Economic stimulus brings higher debt
               S             The overall economy suffered             levels
                               From rapid economic decline to
                                                                        To mitigate this impact, central banks
                                                                      around the world have developed new
                             gradual recovery
                               The world's measures to contain the    plans to maintain a healthy financial
            Global Energy Interconnection Information
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