China July Power Production Rises to Record on Summer Heat WavesBloomberg News
China’s power production increased to an all-time high in July as summer temperatures soared.
Electricity generation climbed 8.1 percent to 479.5 billion kilowatt-hours last month, data from the National Bureau of Statistics in Beijing showed today. That’s the highest monthly figure on record, according to data compiled by Bloomberg.
“The gain in power output is simply because the nation had an especially hot summer in July,” Shi Yan, an analyst at UOB-Kay Hian Ltd. in Shanghai, said by phone. “Industrial activity may have picked up from the previous low level.”
Seven provinces had record-high power production in July due to heat waves in east and southwest China, according to a July 29 statement on the website of State Grid Corp. of China, the nation’s dominant power distributor. Daily generation was un unprecedented 16.87 billion kilowatt-hours on July 25. Temperatures in Shanghai, the nation’s financial hub, rose to 105 degrees Fahrenheit (41 Celsius) on July 26, the highest since record-keeping began 140 years ago, the city’s weather bureau said.
China’s power use may rise by 5 percent to 6 percent this year, the official Xinhua News Agency said July 26, citing a report by China Electricity Council.
Industrial output grew 9.7 percent in July, the biggest gain since December excluding distortions from the New Year holiday in January and February. The median estimate of 47 economists in a Bloomberg survey was 8.9 percent.
The nation’s daily oil-processing fell 1.5 percent from a four-month high in July to reach 9.53 million barrels a day.
— With assistance by Sarah Chen