This paper presents preliminary estimates of how electricity consumption has changed in the European Union since the spread of COVID-19, as a proxy for short-term changes in economic activity. I collect hourly data by country from European Network of Transmission System Operators for Electricity (ENTSOE) from 2016-present, and match it with automated weather stations to adjust for heating and cooling demand. As of the week ending 4 April, 2020, power consumption is down roughly 10%, with large differences across countries reflecting the timing and stringency of lockdown policies.
Areas of Focus: COVID-19
, Energy Markets
, Electric Power
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.
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...