A marginal decline in demand has been witnessed during the initial months of the COVID-19 crisis that has forced lock-downs in multiple countries that resulted in subdued industrial activity.
Verdict has conducted two separate polls to assess the impact of COVID-19 crisis on the demand for power and the anticipated impact on companies due to the fall in demand.
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Results analysis of the first poll, which was meant to assess the concern over COVID-19’s impact on the demand for power, revealed a mixed opinion with a total of 41% expressing a slight to big concern.
Very concerned are 21% of the respondents, while a nearly similar percentage of the respondents are slightly concerned, at 20%.
Neutral are 19% of the respondents, who are neither concerned nor unconcerned, while 26% are not concerned at all. A low concern was expressed by 13%, who chose the response ‘not very concerned’.
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By GlobalDataDecline in demand for power: COVID-19 impact on companies
Results analysis of the second poll, which tried to assess the impact foreseen on the industry due to the decline in demand for electricity, revealed that a majority of the companies foresee an impact.
The impact is anticipated to be high by 34% of the respondents, while a moderate impact is foreseen by 27% which together account for 61%. The impact will be low, according to 16% of the respondents.
More than three-fourth of the respondents, thus, foresee a definite impact, although of varying magnitude, on companies.
No impact is foreseen, however, by a sizeable 23% of the respondents.
The analysis is based on 381 responses received in the first poll and 398 responses received in the second poll, between 26 March and 27 April.
