Officials of the Energy Development Bureau of the National Development and Reform Commission recently stated publicly that due to the financial crisis, China is currently facing a relative surplus of energy, and this situation may remain for some time.
At the 2008 China Energy Environment Summit Forum, Wang Siqiang, Deputy Director of the Comprehensive Division of the Energy Bureau, made this statement and pointed out that China has formulated new development goals for building the energy industry.
Data show that the growth rate of domestic energy demand is declining, and the decline in electricity use in some areas exceeds 30%. Zhou Dadi, a researcher at the Energy Research Institute, said at the meeting: “The economic slowdown has a direct impact on the country’s energy demand. Now that there is a shortage of natural gas, the supply of other energy forms is adequate.â€
Zhou Dadi pointed out that the current situation of electricity in the energy industry is the most difficult. Over the past four months, the growth rate of domestic electricity consumption has been below 10%. In October, the power generation volume showed a negative growth of 4.65%. It is reported that the power generation in November will fall by more than 7% over the same period of last year, which may set a record for the largest decline in history. In October this year, the growth rate of China's refined oil demand fell by three percentage points from the average of the previous three quarters.
At the 2008 China Energy Environment Summit Forum, Wang Siqiang, Deputy Director of the Comprehensive Division of the Energy Bureau, made this statement and pointed out that China has formulated new development goals for building the energy industry.
Data show that the growth rate of domestic energy demand is declining, and the decline in electricity use in some areas exceeds 30%. Zhou Dadi, a researcher at the Energy Research Institute, said at the meeting: “The economic slowdown has a direct impact on the country’s energy demand. Now that there is a shortage of natural gas, the supply of other energy forms is adequate.â€
Zhou Dadi pointed out that the current situation of electricity in the energy industry is the most difficult. Over the past four months, the growth rate of domestic electricity consumption has been below 10%. In October, the power generation volume showed a negative growth of 4.65%. It is reported that the power generation in November will fall by more than 7% over the same period of last year, which may set a record for the largest decline in history. In October this year, the growth rate of China's refined oil demand fell by three percentage points from the average of the previous three quarters.
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