> Goldman Sachs estimated that as much as 44% of China's industrial activity has been hit by power shortages, potentially causing a one-percentage-point decline in annualised GDP growth in the third quarter, and a two-percentage-point drop from October to December.
Interestingly the Chinese government has prioritized residents over export goods:
> the main state grid operator sought to reassure customers, saying it would work to guarantee coal supply and strictly control power use by high-energy consuming and polluting sectors, and ensure power supply to residents during the October holidays and winter heating season.
Seems like overall it is a win since China might accelerate the construction of Hualong One Gen3 nuclear reactors (and could benefit of economies of scale like the Fuxing Hao / CTCS)
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[ 3.2 ms ] story [ 13.7 ms ] threadInterestingly the Chinese government has prioritized residents over export goods:
> the main state grid operator sought to reassure customers, saying it would work to guarantee coal supply and strictly control power use by high-energy consuming and polluting sectors, and ensure power supply to residents during the October holidays and winter heating season.
I am not that familiar with energy markets but some people on social media are pointing out the recent Sino-Aussie trade conflict as affecting the coal supply: https://twitter.com/HelenHet20/status/1442745619240689666
Seems like overall it is a win since China might accelerate the construction of Hualong One Gen3 nuclear reactors (and could benefit of economies of scale like the Fuxing Hao / CTCS)