China's power supply to gambling hub Macau tops 1 mln kW for first time
HONG KONG, July 5 (Reuters) -China's power supply to gambling hub Macau has exceeded 1 million kilowatts on a single day for the first time since the special administrative region and neighbouring Guangdong province were connected to the mainland's electricity grid.
The State-owned Assets Supervision and Administration Commission of the State Council made the announcement on its website on Friday citing China Southern Power Grid Company.
"Since the start of the year, Macau's economic recovery has been strong. Coupled with rising temperatures, the electricity load has increased significantly," the Commission said.
To cope with rising demand, China Southern Power Grid will optimise the network and improve supply capacity to Macau for disaster prevention and resilience, it said.
On July 1, power supply to Macau exceeded 1 million kilowatts for the first time, increasing 4.85% from a previous single-day record of 989,000 kilowatts set last year.
In 2023, annual power supply from the mainland to Macau reached 5.327 billion kilowatt hours, an increase of 9.3% and satisfying 90% of Macau's total electricity consumption.
Reporting by Farah Master and the Beijing newsroom; Editing by Christopher Cushing
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
