Covid-19 Impact on the Energy Industry

COVID-19 continued to have a significant impact on the energy industry in the U.S. and more widely.

In the U.S., final assessments for 2020 suggest annual demand fell by approximately 2.5%. However, this doesn’t tell the full story. Commercial and industrial demand was down 10% but was partially offset by increases in residential demand. Further, the rate of change across the U.S. was not uniform, with some states, such as New York and others in the Northeast, experiencing greater decreases, while states such as Texas saw a limited effect.

The position worldwide was similar. Overall, estimates suggest demand fell by between 2% and 5%, with China having the only major economy to see demand growth in 2020. In India, demand increased significantly in the last quarter, while the increase in the European Union was more sluggish.

Besides the impact on demand, the other recurring theme in Q4 was the continued challenges line crews faced given the need for social distancing. This was particularly evident in the U.S. in responding to a record-breaking 30 named storms and 12 land-falling storms.

United States: The 2020 U.S. Elections

Joe Biden and Kamala Harris’ defeat of Donald Trump and Mike Pence as president and vice president will have considerable impact...

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United States: STATE LEVEL

California—At the end of September, Governor Gavin Newsom signed AB 841, establishing new programs around transportation electrification and energy efficiency....

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Distribution utilities in Victoria publish updated revenue proposals—In December, the five distribution network utilities in Victoria published updated proposals on revenues and investment in their networks for the period from 2021-2026...

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Canada’s Energy Future 2020—In November, the Canadian Energy Regulator published a report titled Canada's Energy Future 2020: Energy Supply and Demand Projections to 2050...

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RIIO-2 decisions—In December the British energy regulator, Ofgem, published key decisions for the RIIO-2 price controls. First, it published its Final Determinations for the three British...

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Importance of reliability highlighted in electricity sector report—In October, a report published jointly by the National Institution for Transforming India (NITI Aayog), the Rockefeller Foundation...

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Regulator publishes its assessment of Aurora Energy’s application for additional funding—In November, the Commerce Commission, New Zealand’s competition, consumer, and regulatory agency...

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