The Power consumption in Brazil reached 475,648 GWh in 2020
The indicator recorded a historical growth at a CAGR of 0.60% between 2017 to 2020
Why did the power consumption in Brazil decline in 2020?
Power consumption grew at a low-single digit CAGR between 2000 to 2020. In 2020, the power consumption fell by a low-single digit as compared to 2019 due to the COVID-19 pandemic. Restrictions to curb the spread of COVID-19 resulted in closure of industries and commercial establishments for long periods in the country. This caused a significant dip in electricity consumption. By 2030, the power consumption is expected to increase at a low-single digit CAGR during the 2020 to 2030 period.
Power consumption is the net electricity consumed by the end users by excluding losses and own consumption and after adjusting exports and imports in a calendar year (fiscal year in some cases). The unit is represented in Gigawatt hours (GWh) and the scope is limited to historic period.
Impact of COVID-19
Brazil was one of the worst hit countries in the world due to the COVID-19 pandemic. To curb the spread of COVID-19, the Brazilian government imposed strict travel and movement restrictions in the country. Majority of the sectors in the country were affected due to lockdowns; however, tourism and hospitality sector was the most badly affected.
Due to the strict movement restrictions, industries, and commercial establishments in few cities in the country were temporarily shut down in 2020. This resulted in a significant decline in electricity demand. In 2020, the electricity consumption declined by a low-single digit as compared to 2019. Annual power generation also declined by a low-single digit percentage in 2020 as compared to 2019. In April 2020, ANEEL (Brazilian Electricity Regulatory Authority) approved the transfer of millions to guarantee liquidity to electricity sector companies during the COVID-19 pandemic. The funding was provided from a reserve account made up of charges imposed on the electricity bills. In March 2020, the Ministry of Mines and Energy indefinitely postponed the 2020 renewable energy auctions due to the COVID-19 pandemic. The auctions were subsequently cancelled in December 2020. The government also postponed all the transmission line auctions.
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