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GEI Data
tuati
Analysis
Si
the
of
on
I Analysis of the Situation
.
Industry
S.
the U
Power
of
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