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Unprecedented power cuts hit China
2021/09/28
This round of power rationing occurred in autumn – after a previous wave of rationing had occurred during?summer peak months?and before the demand for electricity would further rise in winter. China’s state macroeconomic planner?said?yesterday that the country would use “multiple measures” to “ensure stable energy supply this winter and next spring and guarantee residents’ energy-using safety”. Moreover, the power rationing has caused a blow to China’s manufacturing sector. Goldman Sachs estimated that 44% of China’s industrial activity had been affected by the outages, reported?BBC News. State news agency?Xinhua?reported that, as a result, more than 20 listed companies had issued notices of production suspension.?CNN?noted that the power crunch could “place even more strain on global supply chains”. Dr Shi told Carbon Brief: “China’s power rationing manifests the challenge of managing energy transition in developing countries. The outcome will have a significant impact on the global commodity market and even the global economy.”