Commodity Market Report
Summer arrives as pandemic lingers: North America power and renewables June 2020 short-term outlook
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Report summary
Daily average demand in May declined 7.4% compared to same time last year, and 11.5% compared to 2018, due to the continuing impact of the coronavirus pandemic. Cumulative daily average demand between January and May in 2020 has dropped around 5% compared to 2019. June demand levels were down about 2% vs. 2019. Overall wind production stayed flat between April and May, but saw a sizeable uptick in June of nearly 24% above 2019 levels. Gas generation across North America has been comparably lower than January through March, as generation balances remain relatively subdued in general. Gas generation balances were a full 8% lower through most of June, given the outsized wind output.
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