New analysis from a University of Chicago energy think tank takes stock of the steep declines in power consumption in multiple regions stemming from the coronavirus pandemic.

Why it matters: While the stunning drop in oil demand is forcing a geopolitical reckoning (see today’s top item), changes in electricity consumption provide their own metric of economies thrown into reverse.

What they found: Fiona Burlig, an assistant professor of public policy at UChicago, says the U.S. decline already matches what happened during the great recession over a decade ago.

  • “This is particularly striking because we haven’t even reached the apex of virus caseload yet, from everything the epidemiologists seem to be saying,” she said.
  • And when it comes to India, Burlig provides a sense of scale, noting that power demand there has been growing rapidly for many years.
  • “The electricity consumption in India from April 1 to April 6, 2020, is back at 2013–14 levels — a pretty shocking decline,” she said in an email exchange.

Continue Reading at Axios…

Areas of Focus: Energy Markets
Energy Markets
Well-functioning markets are essential for providing access to reliable, affordable energy. EPIC research is uncovering the policies, prices and information needed to help energy markets work efficiently.
Electric Power
Electric Power
As the electric power system faces new pressures and opportunities, EPIC research is working to identify the mix of policies needed to accelerate the global transition to clean, reliable, affordable...