This Insights follows up on an analysis of March data in which we reviewed data on the impact of COVID-19 on electric demand across different market regions. Here, we refresh our analysis with April data and review a full calendar month in which much of the country was under stay-at-home orders.
Examining recent trends from New York, California, and the UK, we observe that demand destruction caused by pandemic response efforts persists. However, the severity of the demand impact appears to have tapered, or even decreased, potentially indicating that there is reason to expect some rebound in demand as quarantine measures ease. We also observe expected seasonal trends as the weather warms and spring progresses.
We close by highlighting several areas that we will monitor in the coming months that will affect stakeholders in the electric utility space.
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