The Power consumption in Russia reached 753,328 GWh in 2020
The indicator recorded a historical decline at a CAGR of 0.46% between 2017 to 2020
Why did the Power consumption in Russia decline in 2020?
From 2000 to 2020, electricity consumption grew at a low-single-digit CAGR. In 2020, the power consumption went down by a low-single-digit percentage due to the restrictions imposed by the Russian government to curb the spread of COVID-19. The annual power consumption is estimated to grow at a low-single-digit CAGR from 2020 to 2030.
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 a historic period
Impact of COVID-19
In Russia, the COVID-19 outbreak was detected in early March 2020. The country implemented lockdown by the end of March to curb the spread of the pandemic. Despite the lockdown, COVID-19 cases rapidly increased in the country. Further, the implementation of lockdown derailed the economic growth in the country as major non-essential activities were shut down.
With respect to power sector in Russia, the power consumption in the country declined by a low-single-digit percentage in 2020 as compared to 2019 as many services are shutdown with multiple sectors in the country not operating at full capacity. Power generation in the country also observed a decline of a low-single-digit percentage compared to 2019. Further, the spread of pandemic also impacted the power plant operations. Some thermal power plants halted or delayed their maintenance as the pandemic prevented the owners from bringing in foreign specialists due to travel restrictions.
Moreover, the spread of pandemic also impacted hydropower and wind projects that were under construction. The Russian Wind Industry Federation announced in April 2020 that there may be a delay in commissioning under construction wind farms in the country as companies were experiencing labor shortage due to travel restrictions. Such incidents are expected to impact the future hydropower and wind capacity of the country. In addition to this, the spread of COVID-19 pandemic has also disrupted supply chain and logistic in the power sector leading to project delays.
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