China’s power generation confirm positive PMI studies in March!

Despite milder weather, China’s power generation still progressed +4.2% YoY in Mar’24 and +8.1% YoY in 1Q’24 for a total of 2.2PWh (i.e. 2.2 million of billion watt-hour)!

China Power Generation

Higher renewable availabilities in March, put a cap on power generation from coal, only up +1.1% YoY. This might be a short-term relief with hydroelectricity becoming affected by below-normal rainfalls and droughts developing across China’s southwestern regions.

With heating/cooling demand at seasonal low, power output in March or April should be a fair reflection of China’s manufacturing activities to be compared with Mar’24 PMI reported at 51.1, in expansion territories and at its highest since Apr’23.

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