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October 26, 2020

Coronavirus company news summary – Spain’s industrial power consumption rises in September – Construction at Vogtle nuclear power plant delayed

By Jessica Paige

26 October

Industrial electricity demand saw a slight increase in September in Spain as the year-on-year decline in power consumption decreased by 2.3% from 7.7% in August. The decline in the previous month was the lowest recorded at 1.8% in June 2018, according to grid operator Red Eléctrica Group.

ABB, Switzerland-based power and electrical equipment company, has forecasted its revenue to decline for the fourth straight quarter due to the ongoing pandemic. The demand from European and American customers continues to remain low despite China making a recovery. The company registered a 4% drop in revenue to $6.58bn in Q3, faring slightly better than forecasted figures of $6.3bn.

Georgia Power has revised the operational schedule for its Vogtle nuclear plant, due to the impact of the measures taken to contain the spread of Covid-19 at the plant site. The nuclear fuel loading for the first reactor is now deferred to April 2021, while commercial operation of the reactor will start next November, as per schedule.

Electricity generated from renewables will make up more than half of Germany’s power mix this year, according to data from Fraunhofer Institute for Solar Energy Systems ISE. The increase is attributed to larger capacity, conducive weather conditions and shrinking demand due to the ongoing pandemic. The country’s dependence on renewable power increased by 6.3% from 2019.

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