May 29, 2020
JSC KIEP in the context of world energy trends
JSC KIEP has been acting at the international arena for more than 85 years and constantly conducts comprehensive analyses of fluctuation in supply and demand in the world energy market.
Thus, the results of assessment of the state of the world energy market show that in the first quarter of 2020 there was a decrease in electricity demand by 2,5% compared to the same period in 2019.
At that in Ukraine, a certain increase in demand for energy supply for the residential sector could not cover the reduction in electricity consumption by commercial and industrial enterprises. This reduction was caused not only by the consequences of the Covid-19 world pandemic, but also by milder weather conditions in January-February 2020 compared to last year. Demand for electricity in the construction and manufacturing industries (68% of total electricity demand in 2019) decreased by 12%.
According to the forecasts of the International Energy Agency, a reduction in global nuclear energy production by 3% is expected in 2020. The mass media has already announced about postponement of completion of several nuclear projects in China, Finland, France, the UK and the United States.
As JSC KIEP is specialized in the design of nuclear power plants (the stock of orders is up to 70% of all projects), such forecasts result in necessity to expand the volume of the orders in the field of thermal, unconventional (with renewable energy sources) and hydropower industry.
Currently, in the course of the project fields expansion, Joint Stock Company “KIEP” develops projects that involve renewable energy sources (solar and wind power plants, as well as small and large hydro power projects), nuclear and thermal energy projects field is also planned to be continued and expanded.