China’s electricity consumption expected to grow by 6% – 7% in 2023, newly installed power capacity to exceed 300 mln kW for first time – industry association
DATA MACRO
China’s electricity consumption expected to grow by 6% – 7% in 2023, newly installed power capacity to exceed 300 mln kW for first time – industry association
DATA MACRO

China’s electricity consumption expected to grow by 6% – 7% in 2023, newly installed power capacity to exceed 300 mln kW for first time – industry association

 

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China’s total electricity consumption reached 4.31 trillion kWh in the first half of the year, rising by 5% from a year earlier, accelerating by 2.1 percentage points from the same period last year, according to the China Electricity Council. 

For the full year of 2023, China’s electricity consumption is expected to reach 9.15 trillion kWh, rising by around 6% from the previous year, with the electricity consumption in the second half of the year expected to grow by 6% – 7%, it said. 

Driven by the rapid growth of new energy power, China’s newly installed power generation capacity is expected to exceed 300 mln kW for the first time on record, with newly installed non-fossil energy power capacity exceeding 230 million kW, it said. 

By the end of 2023, China’s total installed power capacity is expected to reach 2.86 billion kW, rising by about 11.55 from a year earlier, it said.