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Electricity Demand Drop Forecast at 4.5%

June 29, 2020

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According to Bloomberg, electricity markets will be fundamentally re-shaped long after stay-at-home orders have ended. What lies ahead is the biggest annual drop in electricity demand since the Great Depression.

Global electricity consumption will decline 5% in 2020, the most in more than eight decades, according to the International Energy Agency analysis. In the U.S., retail power sales will drop 4.5% this year, the most since the EIA started tracking this metric since 1949.