As Lockdown Orders Spread, Demand for Power Drops — so do Prices, Down 10% in New York

From Bloomberg:

The closures of schools, factories and offices to prevent spread of the coronavirus will “profoundly impact” the U.S. power sector, according to BloombergNEF.

Already in New York, electricity use dropped about 7% during the week ending March 25, and prices are down about 10% as the state has ordered nonessential businesses to close, BNEF said in a report Friday. Demand and power prices are also down in California and New England.

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