Electricity consumption is significantly higher during summer months this year than the same period year before. The increase is not only because of growing economy but also extremely hot weather, which leads to higher usage of A/C.
Our view:
Although in past years summer electricity consumption is increasing, the difference between winter and summer is still significant. The trend of increased consumption during summer months has been visible during past couple years and is obvious cycle. Thus we see the news as neutral for today’s trading.