China’s Guangdong province is being forced to restart costly natural gas power plants to meet rising electricity demand. The El Niño weather pattern has curtailed hydropower and wind output, leaving utilities with few options. The province, with an economy roughly the size of Spain, is hurrying to rebuild fuel stocks as clean energy generation remains weak.
Utilities are left with few options but to restart idled gas units to plug the hole left by weaker clean energy generation.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing