AI Data Insight
In the third quarter of 2026 (as of August), the cumulative year-over-year growth rate of China's urban and rural residential power consumption fell below the zero axis to -0.3%, showing a significant cooling compared to the previous observation of 0.3%. A sharp decline in air-conditioning demand caused by typhoons and heavy rainfall is the main factor dragging down residential power consumption. However, the explosive growth of new business formats, such as high-tech manufacturing and internet data services, has become the core engine supporting the expansion of overall power demand.