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The China Electricity Council predicted the country's power use will continue stable growth in 2022 driven by government policies to stabilize the broader economy. The electricity consumption will increase 5 to 6 percent year on year to reach a range between 8.7 trillion to 8.8 trillion kilowatt-hours (kWh), the council said in a report, adding that the growth rate will pick up the pace from quarter to quarter. The forecast will be lower than a 10.3-percent increase last year but still remain steady, according to the report. As Chinese policymakers stressed that economic work in 2022 should prioritize stability while pursuing progress at the tone-setting Central Economic Work Conference in December, the council believes measures in the pipeline to shore up growth will provide the major support for the country's electricity consumption. Besides, with the rapidly-growing new energy sector, the new power generation capacity nationwide will hit a record high of 230 million kW, the council said. China's non-fossil energy capacity will total 1.3 billion kW at the end of this year, accounting for half of the total power generation capacity, the council said, citing 410 million kW of hydropower, 380 million kW of wind power, and 400 million kW of solar energy. |
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